BOJ deputy governor Wakatabe speaks in Niigata
- Benefit of easing is exceeding its side effects
- BOJ has tools left to ease policy if needed
- There is room for further stimulus if necessary
- Further easing also depends on policy sustainability and distance to inflation target
Do take his comments with a pinch of salt as Wakatabe sits on the extreme dovish end of the hawk-dove scale in the BOJ, which says a lot since most members area already leaning more to the dovish side.
Since coming into the picture, he's constantly commented on leaving the door open to further easing so this isn't anything too new. USD/JPY sits at 113.00 currently near the highs for the day as the dollar is holding up well so far.
