BoJ board member Naoki Tamura said, “we’re now in a phase where we need to scrutinise whether Japan can achieve a positive wage-inflation cycle. As such, it’s appropriate to maintain monetary easing for now.”
Tamura also noted that December’s decision to double to yield cap was aimed at making monetary easing more sustainable, not at tightening. “At this stage, it’s important to follow carefully and humbly how markets would stabilise and to what extent market functions will improve,” he said.
