BOJ's Nakaso

  • Japan's economy expected to expand moderately
  • 2% inflation target expected to be hit in fiscal 2017/18
  • It takes some time for the effect of monetary policy to appear in economy
  • Absolutely no change in BOJ's commitment to hit 2% inflation target
  • Will take additional steps if needed to hit price goal
  • No easing in April does not rule out we will take further action
  • Bold easing necessary to put economy on track for sustainable growth
  • Some indicators suggest a fall in bond market liquidity since the start of the year

He's riding it close to the middle of the road. He talks about easing but also about the lagged effects of earlier easing.

More:

  • Global economic uncertainty, unstable market moves may have affected business and labor union sentiment in wage negotiations

That's a new one.