BOJ’s Nakagawa says its appropriate to maintain easy monetary policy for the time being | Forexlive

Bank of Japan monetary policy board member Nakagawa:

• Appropriate to maintain easy monetary policy for time being
• Signs of change seen
  in Japan’s corporate price, wage-setting behaviour
• Still not at stage
  where we can say japan has stably, sustainably achieved BOJ’s price
  target
• Monetary easing
  involves various side-effects
• BOJ will conduct
  flexible market operation when 10-year JGB yield moves in range of
  0.5-1.0% range with eye on interest rate levels and speed of moves
• BOJ’s July
  decision has heightened sustainability of its monetary easing
  framework
• Japan’s capex,
  consumption increasing moderately
• Japan’s economy
  likely to continue recovering moderately
• Our baseline
  scenario is for consumer inflation to gradually re-accelerate after a
  period of slowdown

• There is chance inflation could accelerate more than expected, though
  there is also chance pass-through of costs could moderate
• Job market
  tightening but outlook for wages also depends on corporate earnings
• Price rises for
  goods broadening, service prices also rising mainly for accommodation
  fees
• Must be vigilant to
  risk of further slowdown in global growth

Nothing here to indicate any desire to back away from loose policy.

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• Source: https://www.forexlive.com/centralbank/bojs-nakagawa-says-its-appropriate-to-maintain-easy-monetary-policy-for-the-time-being-20230907/