Bank of Japan's Takata:
- says Japan is seeing early signs of hitting 2% inflation
- says Japan's economy is recovering moderately
- says he believes that the Bank of Japan must patiently maintain easy monetary policy given the very high uncertainty on the outlook
- At the same time, BOJ must respond nimbly to uncertainty with eye on economic, price outlook
- There's a chance Japan will see shift in public perception prices and wages won't rise much
- Japan seeing signs of change in corporate wage, price-setting behaviour
- There is sign of change in Japan's trend inflation as rising wages push up inflation expectations
- Inflation is already exceeding BOJ's 2% target but there is some distance to achieving it stably and in sustainable fashion
- If overseas economies slow sharply, that could weigh on Japan's economy
Takata will hold a news conference later but I don't have a start time for that.