Bank of Japan policy board member Sayuri Shirai

  • BOJ may consider some monetary policy adjustment if path towards price rises envisaged by the bank does not materialize at all
  • Expects Japan's economic recovery to remain moderate for the time being
  • Some capital expenditure plans may be delayed given weakness in machinery orders, labour shortages
  • Expect private consumption to maintain moderate recovery trend
  • Risks to Japan's economy tilted toward downside for fiscal 2017
  • Expect japan to achieve 2 pct inflation around latter half of fiscal 2016
  • My projection is for core CPI to rise to a little over 1 pct in fiscal 2016, reach "around a little over" 1.5 pct on average in fiscal 2017
  • May take longer than expected for inflation expectations to heighten steadily

Headlines via Reuters

Full text: Japan's Economic and Price Developments and Monetary Policy: Underlying Inflation Trend and Inflation Expectations

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Shirai will follow with a press conference at 0430GMT