Bank of Japan Monetary Policy Board member Yukitoshi Funo is speaking at a meeting with business leaders in Sapporo
- Bank of Japan is still halfway to 2% price target
(sounds like Funo is starting on the sake even before he has eaten lunch)
More:
- Important to continue powerful easing to hit price target
- Price momentum still insufficient for CPI target
- Must push down real interest rates sufficiently to guard economy against negative shocks
- Various overseas uncertainties remain such as US economic policy outlook, developments in emerging economies, geopolitical risks
- Expect employees' income to gradually increase but there is a risk companies may remain cautious in raising wages
- Japan's private consumption likely to increase moderately as a trend
- Japan still has room to increase productivity, key to do this with less pain is to promote growth strategy
- Easy monetary conditions, tight labour market offer good chance to pursue structural reform, growth strategy
You can't spell Funo without Fun
