Ex of the Bank of Japan monetary policy board
- BOJ could whittle down stimulus before inflation hits 2 percent target
- BOJ’s efforts to make its stimulus more sustainable were long overdue
- BOJ’s prolonged easy policy has pushed forward
timing of banking sector consolidation
- Steps to make policy flexible long overdue – Ishida
- Inflation target a mechanism, not goal, of monetary policy
- BOJ won’t rush in steepening yield curve – Ishida
- Adds Japan’s banking system prone to consolidation
- BOJ’s credibility will be hit if it incurs losses
Of course, given he is no longer on the mon pol board his comments may not carry much weight, but I doubt what he is saying is too far from the minds of current board members
BOJ backing off on its extremely accommodative policy might translate to a yen positive.
But they ain’t gonna be doing too much tightening any time soon so don’t get too excited by this.