BoJ board member Hitoshi Suzuki said today that there is “absolutely no need” to ramp up monetary easing. He added, “if the momentum for hitting the price target is lost, the BOJ will consider taking appropriate action. But many board members, including myself, believe the momentum is sustained.”
Nevertheless, Suzuki noted it’s the current massive stimulus program is still needed. He said “there’s a risk inflation won’t accelerate much for a prolonged period, as companies remain cautious of raising wages and households are sensitive to price rises.
