BOJ’s Sakurai: Main priority is to control yields
|Bank of Japan (BOJ) board member Makoto Sakurai is back on wires now, via Reuters, noting the following:
Maintaining current monetary policy, fiscal stimulus
Should be enough for now as Japan's economy recovering
Is fine to just monitor current fiscal, monetary policy
No need to change expected timing of hitting 2% inflation as per April's BOJ quarterly report
Fiscal consolidation is an important long term goal
Believes it would be fine to maintain for now BOJ's pledge to increase its bond holdings by around JPY 80trln this year
It is true BOJ's recent bond buying pace somewhat slower compared with pledge
Main priority is to control yields so amount of its bond buying may fluctuate from time to time
Don't need to take additional easing steps if timing for hitting price goal is delayed from what was forecast in April outlook report
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