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BOJ’s Sakurai: Bank has achieved 60-70% of its inflation goal

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Bank of Japan’s (BOJ) newly appointed board member Makato Sakurai was on the wires via Reuters today, noting that the Effect of easing is showing up in Japan's economy.

    Key Quotes:

    BOJ has conducted bold monetary easing in last 3 years

    BOJ has achieved 60-70% of its inflation goal

    Downside risks to Japan have risen compared to six months ago due to global slowdown

    Don't need to be too pessimistic about Tankan result as capex plans aren't too bad

    Effect of easing is showing up in Japan's economy

    Should carefully monitor developments in the economy in deciding appropriate steps for mon pol

    It's appropriate for BOJ to have many policy tools

    BOJ must develop new policy means and use them appropriately

    Yield curve fell faster than I expected after starting negative rates

    BOJ should not deploy policy tools recklessly

    Risks to the economy have risen but some indicators are still showing positive signs

    Wants to hit price target soon but that's difficult to forecast due to influence of oil prices
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