Ex-BOJ’s Momma: BOJ inflation goal still too optimistic

The Japan Times quoting comments from a former BOJ executive director, Kazuo Momma, delivered late-Tuesday on the BOJ’s inflation outlook.

Key Quotes:

“BOJ still too optimistic about the time needed to achieve its 2 percent inflation target”

Further easing is “not needed at all, not at all,” in the foreseeable future

“I have to say the hurdle to meeting the target around fiscal 2018 is still somewhat too high,”

“It will take a bit longer.”

“It will be very challenging” for the BOJ to decide the most appropriate level for the yield curve as economic conditions change.”

“The BOJ just has to concentrate on maintaining the current framework and considering how to make the most of it.”