• No plan to cut 0.1% interest paid to financial institutions’ excess reserves parked with BOJ
• Japan likely to achieve 1% inflation in not too distant future
• Consumer spending in earthquake damaged areas likely to support domestic demand in future
• BOJ will not automatically link its policy to that of other central banks
• Slowdown in Europe and China is lasting longer than anticipated
• US job creation slowing but consumer spending is firm
• BOJ will ease at a pace deemed most appropriate with eye on Japan’s economy, prices
• Expect China to eventually emerge from its slump as China eases policy
• Still a lot of uncertainty about fiscal and structural reforms in Europe
• Overseas economies slowing more than expected largely due to Europe’s debt woes
• Takes a very long time for effects of easing to appear in economy, prices
• Thursday’s move aimed at ensuring BOJ can achieve current target for asset buying and lending
• It is not the case that BOJ is more optimistic on global economy than other central banks