BOJ deputy governor nominee says crafting new policy for easing an option

TOKYO (Reuters) – The Bank of Japan can come up with a new policy framework if needed to achieve its inflation target, Masazumi Wakatabe, one of the government’s two nominees for BOJ deputy governor, said on Wednesday.

Wakatabe said the BOJ had various tools available if it needed to ramp up stimulus, though he had no preset idea on whether additional monetary easing was needed to achieve its target.

“There are various things the BOJ can do under its yield curve control policy. It can strengthen its existing tool kit, or could come up with a new policy,” he told an upper house confirmation hearing.

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