BOJ’s Masai: Will take steps, including those to make easy policy sustainable


The Bank of Japan (BOJ) board member Masai is back on the wires now, via Reuters, noting that BOJ is ready to take necessary action depending on the impact of coronavirus on global, Japanese economies.

Key Points:

From a somewhat long-term perspective, global economy likely to gradually recover, Japan can also expect boost from govt fiscal package.

No change to view Japan’s economy likely to grow slightly above its potential

BOJ will take steps, including those to make easy policy sustainable, if there are signs of disruption in financial intermediation.

Japan's interest rate level has not reached a 'reversal rate,' under which excessively low rates have negative impact on economy.

Japan banks have sufficient buffers, don't see any problem in financial intermediation at this stage.

USD/JPY remains unfazed by the above comments, keeping its range near a two-week high of 109.98.

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