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