Japan’s Ishihara: BOJ monetary policy has not been wrong

Japanese economy minister Ishihara crossed the wires via Reuters, defending the BOJ’s monetary policy decision in a prepared speech on Thursday.

Key Quotes:

BOJ monetary policy has not been wrong

Not wrong even though inflation target has not been reached

Can't say when Japan will escape deflation completely

Japan definitely not in deflation if looking at core CPI

Important to keep govt policy and BOJ mon policy separate but with co-operation

BOJ should be independent

Important to keep FY2018 primary budget balance target