October 3, 2019 / 1:34 AM / 11 days ago

BOJ's Funo warns on overseas risks, signals readiness to respond

Newly-appointed Bank of Japan (BOJ) board member Yukitoshi Funo attends his inauguration news conference at the BOJ headquarters in Tokyo, July 1, 2015. REUTERS/Toru Hanai

MATSUE, Japan (Reuters) - Bank of Japan board member Yukitoshi Funo on Thursday warned against heightening downside risks from a persistent slowdown in the global economy, signalling the bank’s readiness to respond to prevent risks from materialising.

“We are facing a situation where we need to pay more attention than before to the risk that the momentum towards the price stability target will be undermined,” Funo said in a speech to business leaders in Matsue, western Japan.

“With that situation in mind, we will reexamine economic and price trends at the next policy setting meeting,” he added.

While the BOJ kept policy steady in September, it signalled the chance of expanding stimulus as early as this month by issuing a stronger warning against overseas risks.

Reporting by Tetsushi Kajimoto; Editing by Chris Gallagher

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