- Japan's economy is recovering moderately albeit with some weakness
- Underlying inflation will continue rising moderately
- Underlying inflation, rate of increase in core inflation likely to increase gradually
- They will be at a level in line with BOJ price target in the second half of the projection period
- Easy monetary conditions will continue to support the economy
- Need to pay attention to those risks affecting Japan's economy and prices
- Risk factors include forex and financial market developments
- Will continue to raise policy rate if economy, prices move in line with forecasts
- Tamura and Taka proposed changes to outlook report language but were voted down
- Financial environment remains accommodative after December rate hike
- It will take some time until the impact of the rate hike affects the real economy more broadly
From the opening comments so far, he doesn't seem to be one to be in a rush to get to the next rate hike. And he's not making any standout remarks on the currency and bond market developments, at least not yet. He will definitely make a mention or two in the coming half hour. So, just look out for that. For now though, the comments above mainly covers the reasoning behind their decision making today.
