BOJ’s Amamiya: Won't hesitate to ease policy if momentum to hit price target is disrupted


Further comments are out from the Bank of Japan (BOJ) Deputy Governor Amamiya, with the key headlines found below.

Main scenario is still that Japan’s economy will continue to expand moderately, inflation to accelerate to 2% target.

Won't hesitate to ease policy if momentum to hit price target is disrupted.

For now, sticking to our baseline scenario on economy but we also recognize that downside risks are strong.

Many countries' policymakers share view global economy to recover latter half of this year.

BOJ is watching carefully how downside risks could affect economy, price momentum.

Japan's output gap is positive, more firms raising prices so no change to view momentum for achieving price target is sustained.

Must bear in mind it will take long time to hit price target.

Key point ahead will be how long Japan’s domestic demand sustains resilience.

Won't rule out any policy option if BOJ were to ease.

Could opt to combine easing options, or use them individually if it were to ease.

Could also consider using modified version of existing tools if it were to ease further.

 

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