BOJ board member Sakurai out on Reuters 25 May
- should be enough for now as Japan's economy recovering
- output gap would be most important to look at in guiding policy for time being
- no need to change expected timing of hitting 2% inflation as per April's BOJ quarterly report
- fiscal consolidation is an important long term goal
- believes it would be fine to maintain for now BOJ's pledge to increase its bond holdings by around JPY 80trln this year
- it is true BOJ's recent bond buying pace somewhat slower compared with pledge
- main priority is to control yields so amount of its bond buying may fluctuate from time to time
- don't need to take additional easing steps if timing for hitting price goal is delayed from what was forecast in April outlook report
- have to talk to market so there are no concerns on exit strategy
Nothing of note/new and USDJPY suitably unfazed at 111.63BOJ
BOJ's Sakurai - No further easing required right now