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
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Nothing here from Namura indicating he is of the mindset to trim back the Bank's super-easy monetary policy.
