BOJ’s Kuroda: Sept comprehensive review won't lead to discussions that could lead to tapering of monetary easing

More comments flowing in from the BOJ Chief Kuroda, as he continues to speak on the monetary policy:

Monetary policy should be conducted in a flexible manner

Comprehensive review is conducted with aim of achieving 2 pct price target at earliest possible time

There may be a situation where drastic measures are warranted even though they could entail costs

BOJ should always prepare policy options to address situations where drastic measures are warranted

Corporate profits are expected to decrease slightly this fiscal year but remain high

BOJ's Sept comprehensive review won't lead to discussions that could lead to tapering of monetary easing

Japan is no longer in deflation

Negative rate policy so far seems to have succeeded in lowering funding costs of firms, households

It is unquestionable that boj's QQE with negative rates have contributed significantly to turnaround in economy

Japan not in situation where financial intermediary functions are impaired from negative rate policy

Potential impact on financial intermediation, banks' profits needs to be taken into account in assessing effectiveness of negative rates

Impact of negative rates on financial intermediation can vary depending on duration of this policy

Substantial Oil price declines, weakness in private consumption and slowdown in emerging economies had negative impact on achieving price target

BOJ should take into account not only its powerful impact of QQE with negative rate but its impact on financial intermediation

There is still ample space for further cuts in negative rates, increase in asset buying

Inflation expectations have weakened since summer 2015 due to slowdown in emerging economies, volatile financial markets

BOJ will continue to choose most appropriate policy actions among these options depending on economic, price moves and financial conditions

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