• Should not guide policy on short-term market moves
• No change to BOJ stance as aiming for 1% inflation
• See greater chance of Japan economy resuming gradual recovery due to reduced risk from Europe debt crisis
• Will examine economy, price outlook especially carefully at April 27 meeting
• Hard to set clear-cut timetable on when Japan will see 1% inflation
• See investors slight shift away from risk due to U.S. job data, debt problems of Spain, Italy
• Must focus on direction of price moves rather than trying to achieve target abruptly, quickly
• Must not link policy directly to market moves, which are affected by various factors
• Should not target 2% inflation in Japan just because overseas central banks do so