BoJ’s Noguchi: BoJ’s new guidance shows its strong commitment to patiently keep easy policy

Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday, “the BoJ’s new guidance shows its strong commitment to patiently keep easy policy.”

Additional quotes

Japan’s economy to recover moderately.

Global economy, markets are risks to Japan’s outlook.

Shape of yield curve is now smooth as a whole.

Japan public's inflation expectations yet to be anchored at 2%.

BoJ must consider trade-off between economic stimulus effect and market function, in setting allowance band for 10-year yield target.

What's most important is to ensure momentum for wage growth becomes trend, by maintaining easy policy.

Need to carefully gauge for now whether the 'norm' for inflation and wages is changing.

Service prices are rising in Japan but impact of wage pressure not so big yet.