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BOJ’s Wakatabe: Commitment to monetary easing hasn’t changed

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Bank of Japan Deputy Gov. Masazumi Wakatabe said Thursday that the central bank’s easy stance and its commitment to achieving sustainable 2% inflation remain unchanged.

“The bank’s commitment to continuing with monetary easing has not changed at all,” Wakatabe said in a speech.

After raising a cap on the 10-year government bond yield to 0.5% in December, the central bank stood pat at its January meeting. Analysts say the BOJ will likely tweak its policy again before too long, while some expect the central bank to make its inflation targeting more flexible.

Wakatabe suggested Thursday that the central bank should stick to the current 2% inflation target.

“Ambiguity in this inflation targeting would make the objective of monetary policy vague, and therefore could undermine the transparency of monetary policy and its effectiveness,” he said.

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