BoJ's Tamura: Monetary policy is likely to maintain accommodative for the time being

Bank of Japan (BoJ) board member Naoki Tamura said on Wednesday that, based on the current economic and price outlook, the Japanese central bank is anticipated to maintain accommodative monetary conditions for the time being.

Key quotes

“Based on current economic, price outlook, BOJ likely to maintain accommodative monetary conditions for time being.”

“Will guide monetary policy appropriately in accordance with economic, price, financial developments.”

“Not there yet to allow market forces to fully drive long-term interest rate moves.”

“Despite our tweak to monetary policy framework, there are side-effects remaining.”

“Our monetary easing had some effect in underpinning economic growth.”

“Japan's economy is showing some signs of weakness but is recovering moderately.”

“Rises in services prices pushing up overall inflation.”

“Positive wage-inflation cycle is likely to continue.”
 

Market reaction

Following the headline above, USD/JPY was down 0.01% on the day at 151.54.