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Yutaka Harada, Bank of Japan's board member despite showing his concern over global economy and inflation downplayed any immediate to additional monetary stimulus from the bank.
- Compared to previous speech, Mr. Harada expressed his relative weaker expectation towards economy and inflation, sighting several risks at the horizon, which includes slowdown in emerging markets and China, unexpected shock from US Federal Reserve's tightening of monetary policies.
- He asserted readiness of Bank of Japan (BOJ) to expand monetary policy, if these risks hurt Japanese economy but fell short of suggesting any further stimulus in spite of weaker inflation. He reiterated Mr. Kuroda's view on domestic front, suggesting relatively healthy consumption and exports and tight labour market will eventually lead to higher prices.
- He also felt that Bank of Japan (BOJ) need not hit the inflation target immediately, feeling prices will eventually start rising as output gap in overall economy tightens, suggesting no immediate need for BOJ to top up on its speed of buying.
Yen is currently trading at 123 against Dollar.
