During his speech today Bank of Japan board member Makoto Sakurai announced a number of different options for the purchase of new bonds and increasing the asset purchase program. However, the banker noted the absence of an acute need to run all of these mechanisms at the next meeting in September. “The Bank of Japan may make some technical changes to its monetary policy, however, is unlikely to change its attitude on the target inflation rate of 2% and nothing decisive at the September meeting” – said Sakurai. The official added that it is important for the regulator to analyze the effects of negative interest rates and the strengthening of the national currency.
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