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MNI INTERVIEW: BOJ Policy Shift Would Be A “Miracle” – Kataoka

(MNI) Tokyo
MNI (Tokyo)

Former board member Goushi Kataoka says a move away from easy policy won’t happen quickly under a new Governor.

The Bank of Japan is unlikely to shift policy under a new Governor until at least the middle of the 2023 fiscal year, and even then it would be a “miracle”, former board member Goushi Kataoka told MNI.

The dovish former official said the BOJ would likely have to raise its core Consumer Price Index forecast for the next two fiscal years, maintain bond buying to curb yields, and that policymakers would be unmoved by a weak yen.

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The Bank of Japan is unlikely to shift policy under a new Governor until at least the middle of the 2023 fiscal year, and even then it would be a “miracle”, former board member Goushi Kataoka told MNI.

The dovish former official said the BOJ would likely have to raise its core Consumer Price Index forecast for the next two fiscal years, maintain bond buying to curb yields, and that policymakers would be unmoved by a weak yen.

Keep reading...Show less