The Bank of Japan should exercise caution when it makes adjustments to the degree of monetary easing, consistent with the state of the economic recovery, according to Toyoaki Nakamura, one of the bank’s most dovish board members.
"We are at a state where it’s important to adjust the degree of monetary easing carefully in accordance with the economic recovery by assessing a broad array of data,” Nakamura said Thursday in a speech to local business leaders in the city of Hiroshima. His remarks indicated that the idea of hiking interest rates this month may not have unanimous support.
The yen weakened immediately after the speech as traders pared back bets on a December move.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.