USDJPY News by Newsroom on 21:59 June 01, 2016 EST
Here are some of Sato's comments:
- It's unnecessary to persist in hitting 2 pct inflation target at all costs
- We've learned that if inflation rises before incomes, consumer sentiment will be hit and it will hurt
- Negative rates could affect financial system stability, negative rates only meaningful for use for tapering.
- Monetary base expansion, negative rate combination not sustainable.
- Expanding monetary base and negative rates are contradictory, negative rates has effect of monetary tightening.
- Japan growth potential nearly zero, and mon pol has lag. Says asset purchases should be 'more flexible'
- BOJ should set price target as longer term goal, have to reform policy framework to longer-term initiative.
- BOJ should make asset purchases 'more flexible', BOJ should explore approach to monetary base target.
- Uneasy about aiming at price target in specific time, is a time lag for monetary policy
- BoJ should set its price target as a long-term goal.
- Economic slowdown to continue, economy likely to avert recession.
- Negative rates might have a tightening impact on the economy, not easing.
- Japan economy likely to avert recession.