BoJ’s most dovish member urges caution on any policy tweak

“We still need more time before turning to policy tightening,” board member Nakamura said. “The sustainable and stable achievement of the 2% inflation target accompanied by wage growth isn’t in sight yet.” — Bloomberg

Tokyo: The Bank of Japan’s (BoJ) most dovish board member has called for cautiousness over making any policy change, as the central bank’s inflation goal still remains out of reach.

“We still need more time before turning to policy tightening,” board member Toyoaki Nakamura said in a speech to local business leaders in Gifu, western Japan yesterday. “The sustainable and stable achievement of the 2% inflation target accompanied by wage growth isn’t in sight yet.”