BoJ’s Himino: Don't have preset schedule in mind on exit from easy policy

Bank of Japan (BOJ) Deputy Governor Ryozo Himino said on Wednesday that he doesn’t have any preset schedule in mind for exit from easy policy

Additional comments

Inappropriate to set in advance a sequence of ending various monetary easing means.

Aside from wage, price moves, must look at consumption, capex, overseas developments as among factors in deciding when to exit easy policy.

We will have to make a decision at some point while looking at mixed batch of signals coming out from economy.

Not confident to say precisely by how much we are close to sustainably achieving our price target.

There is a chance the side-effects of easy policy may diminish upon an exit.

Tokyo CPI data showed signs of dissipating impact of import price gains

It is said to take more than a year for effect of monetary policy to completely appear on economy, which is why we are patiently maintaining easy policy.

Don't have specific prediction in mind now on when BoJ can judge sustained, stable achievement of price goal can be foreseen.

Market reaction

USD/JPY is off the highs at 147.40, currently trading at 147.18, almost unchanged on the day. The above comments fail to move the needle around the Japanese Yen.