MNI BRIEF: Commitment Shows No Easy Policy Exit: BOJ Board Mbr

A Bank of Japan board member said that the inflation-overshooting commitment showed the BOJ's strong stance that it will not exit easily from current easy monetary policy settings, according to a summary of opinions from the March 18-19 board meeting released on Monday.

The same member said that the inflation-overshooting commitment, through which the BOJ implements a "makeup strategy," implies that monetary easing will be continued for a long period.

Another member, however, said: "Simply adopting a makeup strategy does not necessarily lead to achievement of the price stability target. The commitment should be modified so that it incorporates concrete actions toward realizing the strategy."

At the meeting, the BOJ added both greater flexibility and clarity to its asset purchase programs while leaving its main policy setting unchanged.