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Japan inflation following forecasts, 'curve control' smooth - BOJ's Masai
March 8, 2017 / 4:21 PM / 9 months ago

Japan inflation following forecasts, 'curve control' smooth - BOJ's Masai

LONDON (Reuters) - Japanese inflation remains in line with the central bank’s most recent forecasts, one of its key policymakers Takako Masai said on Wednesday, adding that its efforts to keep key government bond yields on a tight leash have been smooth.

Bank of Japan's (BOJ) new board member Takako Masai attends a news conference at the BOJ headquarters in Tokyo, Japan, June 30, 2016. REUTERS/Toru Hanai

The BOJ said in January it expected inflation of 1.5 percent for the 2017 fiscal year which starts in April and that its 2 percent target would be hit by March 2019.

“The negative impact of the oil price has been diminished, so it (inflation) is in line with our previous expectations,” Masai told reporters on the sidelines of an ICMA event in London.

Masai added that efforts to control the shape of the government bond yield curve which include keeping 10-year yields pinned near zero had been “smooth”, and that recent policy measures had not accelerated a drop in liquidity in its bond market.

Reporting by Marc Jones and John Geddie

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