BOJ's Sakurai: meeting price objective doesn’t need excessive steps

BOJ's Sakurai: meeting price objective doesn’t need excessive steps

On Wednesday, Bank of Japan board member Makoto Sakurai heavily criticized the need for extra monetary easing, telling that the major financial institution doesn’t require unnecessary steps for the purpose of accelerating the timing of its 2% inflation objective.

His comments sharply contrast with those of another board member at the BOJ's September gathering, who backed stronger measures to enable consumer prices reach the major bank's 2% objective.

Sakurai actually considers the BOJ’s current policy with yield curve control to be effective enough.

Japan’s major financial institution has had to push back the timing just to meet its price objective up to six times since it started its ambitious stimulus program in 2013.

The BOJ currently hopes consumer inflation will meet the 2% objective by March 2020. However, core consumer prices went up only 0.7% year-on-year in August.

Similar

How Will US PMIs Affect the USD?
How Will US PMIs Affect the USD?

The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.

Will the Fed Surprise Investors?
Will the Fed Surprise Investors?

The Federal Reserve will make a statement regarding the future monetary policy on Wednesday, June 15, at 21:00 MT time (GMT+3).

Latest news

What Are FOMC Insights?
What Are FOMC Insights?

The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.

Will Australian Cash Rate Change?
Will Australian Cash Rate Change?

The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera