BOJ’s Nakaso: BOJ will take additional steps if needed to hit price target

Bank of Japan (BOJ) board member Nakaso hit the wires last minutes via Reuters, noting that the central bank remains committed to achieve its 2% price target, while leaving doors open for further easing.

Key Quotes:

Japan's economy expected to expand moderately

2% inflation target expected to be hit in fiscal 2017/18

It takes some time for the effect of monetary policy to appear in economy

Absolutely no change in BOJ's commitment to hit 2% inflation target

Will take additional steps if needed to hit price goal

No easing in April does not rule out we will take further action

Bold easing necessary to put economy on track for sustainable growth

Some indicators suggest a fall in bond market liquidity since the start of the year

Global economic uncertainty, unstable market moves may have affected business and labor union sentiment in wage negotiations