Bank of Japan policy board member Nakamura pushing back against speculation of any near-term change in policy from the Bak:
- Will need some more time before we can modify easy monetary policy
- Now is a time to be cautious in our policy response
- Current inflation is mostly driven by cost-push factors
- We haven't reached a stage where we can say with conviction that sustained, stable achievement of 2% inflation accompanied by wage growth is in sight
- We are seeing signs Japan will see wage growth exceeding rate of inflation
Must patiently maintain current monetary easing for time being
BoJ Nakamura
