BOJ board member Funo speaking at a business event 31 Aug

  • some people have expressed concern over neg rates
  • shouldn't have a preset idea on where the limit of BOJ's asset purchases could be
  • don't see a big problem with BOJ becoming a major shareholder for some Japanese firms due to its ETF purchases
  • BOJ mon pol so far has had some real effects despite inflation not being at 2%
  • effects of current BOJ policy bigger than side-effects
  • undesirable for BOJ's policies to disrupt Japan's financial transmission

Funo talking up his book but not ruling out further easing. Hot air for the moment until we see for sure at the Sept meeting.

USDJPY 103.05 as Nikkei finds a few buyers on the headlines