Bank of Japan board member Sakurai. Reuters with headlines:

  • Will guide yields to appropriate curve to sustain economy's momentum toward hitting inflation target
  • There were some market views BOJ will raise yield target but underlying inflation remains moderate
  • Given still moderate inflation, uncertainty over overseas economies, it is crucial for BOJ to maintain monetary easing
  • Policy controlling long-term rates is a new challenge but BOJ has been able to do this without any big problem so far
  • No change to BOJ's approach of pursuing monetary easing both from keeping rates low, expanding base money
  • Won't be able to achieve 2% inflation sustainably if policy makers try to forcefully stimulate short-term demand
  • Policymakers must address long-term challenges patiently such as by supporting corporate efforts to boost productivity, innovation
  • Global trend toward protectionism may be weighing on public's perception on economic outlook
  • inflationary pressure likely to heighten in Japan as economy continues moderate expansion

Sakurai is very much a 'Kuroda man'.

more to come