BoJ board member Naoki Tamura told Asahi daily that a review of monetary framework should be conducted by the central bank. Such review could come “soon or at a somewhat later date”. “Whether the BOJ needs to tweak its monetary policy will depend on the outcome of the review,” he said.
Tamura also noted there was scope to review the feasibility of the 2% target, and consider it as a more flexible goal. “As long as the economy is achieving a virtuous cycle, I think it’s okay even if inflation is at, say 1.8%” instead of 2%,” he noted.
