BOJ board member with presser comments after a speech in Nara

  • hard to judge when BOJ's JGB buying will approach its limits
  • a low flat yield curve makes JGB purchases more difficult
  • JGB purchases are smooth now, will not immediately become difficult to purchase JGBs
  • doesn't think oil price decline having much impact on inflation expectations
  • not too worried about oil price decline
  • inflation expectations riding overall due to changes in corp, household sectors
  • would co-operate with adjusting policy in response to something like Lehman shock or EU debt crisis
  • negative interest rates have merits and demerits for policy and markets. Need to think about both
  • No specific plan for tapering BOJ policy now

Eamonn had the headers from his speech here earlier