Bank of Japan monetary policy board member
- BOJ must patiently maintain easy policy for time being
- Japan’s economy no
longer in deflation but deflationary mindset is yet to be eradicated - Current rise in
deflation driven by pass-through of import costs, yet to be driven by
wage gains
-
Must scrutinise whether small, midsize firms are making progress in
earning enough profits to sustain wage rises - Tightening monetary
policy before rise in sales prices lead to wage gains would curb
demand, weigh on companies’ ability to earn profits - Tweak to monetary
policy needs scrutiny of economic conditions, cautious approach - Need more time to
shift to monetary tightening - Sustainable, stable
achievement of price target yet to be foreseen - Japan’s economy
recovering moderately
—
Nothing here from Namura indicating he is of the mindset to trim back the Bank’s super-easy monetary policy.