BOJ’s Sakurai warns trade protectionism could cut Japan growth estimate

(Reuters) – Bank of Japan board member Makoto Sakurai warned on Thursday that the spread of protectionist trade moves was causing uncertainty in the global economy and could cause Japan’s economy to fall short of the central bank’s growth projections.

Sakurai, a former academic who is seen as representing the central bank’s mainstream view on monetary policy, said the BOJ should continue its strong monetary stimulus for the time being while monitoring the side-effects from a prolonged easing.

Sakurai made the comments in a speech to business leaders in Akita, northeastern Japan, according to a text posted on the BOJ’s website.

The BOJ’s policy board holds its next policy review on Oct. 30-31, when it will also update its quarterly economic and price forecasts.

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