Earlier from the Organisation for Economic Co-operation and Development:
Follow-up comments from OECD Secretary-General Cormann:
- Japan's monetary policy can gradually and modestly begin tightening
- Inflation is expected to slow over course of this year but wage pressure will keep it around BOJ's target
- In context of several decades of very low inflation or deflation, I understand why BOJ is very keen to ensure it has all of data necessary to judge level of tightening of monetary policy
- We are perhaps more optimistic that inflation will more durably settle around BOJ's target
- There is scope for BOJ to consequently consider level of tightening in monetary policy
Mathias Cormann was once Australia's Finance Minister. I'm sure Bank of Japan Governor Ueda will bear that in mind when considering this advice.
