BOJ’s Iwata: Do not think increasing ETF purchases alone will be enough

BOJ deputy governor is back on the wires via Reuters, continuing with his remarks on the BOJ’s monetary policy stance.

Key Quotes:

Impossible for review of monetary policy to lead to scaling back of quantitative easing

BOJ is conducting review to meet 2 pct price target as soon as possible

No plan to change wording that BOJ aims to achieve 2 pct inflation with 2-yr timeframe in mind

Policy review will study impact of QQE and negative rates

Sees no limit on increasing monetary base target

To discuss how existing policy fit to hit 2% target

Not thinking of tightening monpol by lowering BOJ asset purchases

Do not think increasing ETF purchases alone will be enough, but need to study what is best combination for monetary policy