BOJ's Wakatabe: Stimulus will be maintained as long as needed

Bank of Japan (BOJ) will maintain the ultra-easy monetary policy as long as needed to achieve the 2% inflation target, board member Wakatabe said on Thursday. 

Wakatabe further stressed that the normalization of policy is unlikely unless the economy and prices return to a normal state. 

Key quotes (Source: Reuters)

• Japan's economy likely to expand moderately as a trend as overseas growth likely to pick up somewhat.
• If QQE was not put in place Japan's economy would not have achieved the state where it was no longer in deflation.
• QQE had a strong stimulus effect on the economy and prices. 
• The planned sales tax hike could exert downward pressure on both the economy and prices.