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