- Underlying inflation is still below 2% but approaching that level
- Need to be mindful of downside risks to prices from tariffs
- We want to look at more data
- Want to scrutinise the data amid high uncertainties from trade policies on the economy
- We plan to proceed with ETF, J-REIT sales until they are fully disposed
- Not considering changing pace of ETF sales to adjust monetary policy
Again, he seems to be mostly conveying the majority view and dismissing the dissents from Takata and Tamura. In other words, he's trying to not make a big deal out of it. As for the ETF sales, I noted earlier how at the current pace it would take 112 years for them to fully unload their holdings. Good luck with that. USD/JPY has now erased losses on the day to 147.95 currently.
