Member of the Policy Board Tamura Naoki in Japanese media (Asahi newspaper):
- BOJ should conduct a review of its monetary policy framework
- Whether the Bank of Japan needs to tweak ultra-loose monetary policy will depend on the outcome of the review
- Timing of review could come soon or somewhat later, which will depend on price, wage, economic outlook
- BOJ should consider 2% price target as flexible goal as that level may have been excessively high for Japan
Headlines via Reuters
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This is not a call for an imminent change, but it is notable. A switch to a lower CPI target would imply the Bank dialling back its easy policy and would thus be a yen positive.
