Seiji Adachi is Member of the Policy Board of the Bank of Japan.
- inflation has risen faster than I expected
- its too early to tweak monetary policy
- our baseline price scenario is bound with uncertainty
- there are upside and downside risks to our price outlook, and longer-run downside risks appear to be bigger
- such risks on price outlook must be taken into account in deciding whether tweaking monetary policy would be appropriate
- Must be mindful to downside risks surrounding Japan's economy given risks regarding global economy
- There is also need to pay certain attention to upside risks to price outlook
- In any case, BOJ must scrutinise whether Japan on path toward sustainably, stably achieving price target
- Appropriate to continue monetary easing under yield curve control framework
- consumer inflation accelerating at faster pace than I initially expected
- focusing on to what extent wage hikes will lead to increase in services prices
USD/JPY is doing very little on these comments.
Earlier from the Bank of Japan:
And still to come later is Bank of Japan Governor Ueda speaking
- At 0630 GMT, 0230 US Eastern time