BoJ’s Nakamara: Will need some more time before we can modify easy monetary policy
|Bank of Japan (BoJ) Board member Toyoaki Nakamura said on Thursday, "we will need some more time before we can modify easy monetary policy.”
Additional comments
Now is a time to be cautious in our policy response.
Current inflation is mostly driven by cost-push factors.
We haven't reached a stage where we can say with conviction that sustained, stable achievement of 2% inflation accompanied by wage growth is in sight.
We are seeing signs Japan will see wage growth exceeding the rate of inflation.
Must patiently maintain current monetary easing for the time being.
Japan's economy recovering moderately.
Expect Japan's economy to recover moderately accompanied by wage increases.
Market reaction
At the time of writing, the USD/JPY pair is keeping its offered tone intact at around 147.00, down 0.14% on the day.
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