The two new BoJ Deputy Governors spoke in the inaugural news conference today.
Masazumi Wakatabe said that BoJ sounded cautious as he said BoJ should avoid premature shift in monetary policy. Also, in his view, the central bank shouldn’t hesitate to ease monetary policy further if needed. Nonetheless, she acknowledged that various economic data already showed the positive impacts of current and past ultra loose policy.
Masayoshi Amamiya, also emphasized the importance to continue with powerful monetary easy, for achieving improvements in the output gap. He acknowledged that Japan is no longer in deflation. But BoJ hasn’t meet its 2% inflation target yet.
