Professor Toshitaka Sekine is an ex-Chief Economist at the Bank of Japan.
- was Director-General of Research and Statistics Department (a chief economist position of the Bank of Japan) for four years
- Director-General of Institute for Monetary and Economic Studies for another year
Speaking at an event in Singapore earlier this week:
- BoJ's policy rate could rise to around 2%, based on the Taylor rule and an inflation target of 2%
- rate hike is possible in May
- rate hike is more likely in July
- Bank of Japan is not particularly sensitive to the yean exchange rate, although a weaker yen could make it politically easier to hike rates
- believes repatriation flows will not be significant, as Japanese households have not significantly increased their exposure to US assets, though Japanese corporates' increased overseas investments could contribute to repatriation flows if conditions change
