Headline points made via Reuters:
- hitting 2% inflation for several months won't be meeting BOJ's price target
- underlying trend inflation must reach or exceed 2% for sustained basis for Japan's inflation expectations to change
- appropriate to tighten monetary policy only when price gains driven by external factors trigger second-round effect, push up wages, inflation expectations
And, this specific point made in his speech:
- Given the current situation where Japan's economy has finally started to pick up from the pandemic, it is definitely too early for the Bank to start tightening monetary policy when the target has not yet been achieved as this could hinder the economic recovery.
