TOKYO : The Bank of Japan (BOJ) is likely to move steadily towards phasing out its massive stimulus and may tweak yield curve control as early as October, said former central bank policymaker Makoto Sakurai.While the central bank is likely to revise up this fiscal year's growth and inflation forecasts at
TOKYO : The Bank of Japan is likely to move steadily towards phasing out its massive stimulus and may tweak yield curve control as early as October, said former central bank policymaker Makoto Sakurai.
"The key timing will come around October or December. If the economy is holding up, the BOJ could act" such as by widening the allowance band around its yield target, Sakurai told Reuters in an interview on Tuesday. The ultra-low interest rate policy has made the BOJ an outlier among a global wave of central banks tightening policy, and triggered an unwelcome yen fall that boosts import costs.
"The BOJ is gradually moving towards a revision to its ultra-loose policy," said Sakurai, who retains close contact with incumbent policymakers.
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