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ECONOMY

BOJ policy board member stresses “additional easing is not necessary”

  • October 12, 2018
  • , Nikkei , p. 5
  • JMH Translation

Makoto Sakurai, a policy board member at the Bank of Japan, noted in a press conference held in Akita, Akita Prefecture on Oct. 11 that “additional monetary easing is not necessary.” He said that the real economy is “steadily improving though some uncertainties remain” and pointed out that attention should be paid to side effects such as financial institutions’ weak earnings while maintaining the existing easing policy.

 

On the achievement of a 2% inflation target, he pointed out that “it is taking longer than expected.” He noted that though there are improvements in supply and demand, public sentiment toward deflation and improved corporate productivity are reining in prices. “There are uncertainties in the relationship between monetary policy and prices,” he said. Though he mentioned that “it will take some time” to achieve a 2% inflation target, he commented that the “modification of the target is not necessary.”  

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