BOJ’s Kuroda: Even within current framework there is ample room for further easing

Bank of Japan (BOJ) Governor H. Kuroda is on the wires now, making a scheduled speech Comprehensive Assessment" of the Monetary Easing: Concept and Approaches at the Kisaragi-kai Meeting in Tokyo.

Key Quotes:

Benefit of seeking 2% CPI larger than its cost

There are limits to what BOJ can do in the sense it cannot undewrite debt due to legal constraints 

Even within current framework there is ample room for further easing

First issue to analyze is what factors have hampered achievement of price target 

Expansion of three-way easing still possible

What we should bear in mind when conducting monetary policy is not its limit but comparison between its benefits and costs

Negative rates have had impact on mkt liquidity, banks' profits, so need to assess this policy

Given we have been implementing large-scale monetary easing, any additional easing entails costs

We should not hesitate to go ahead with monetary easing as long as it's necessary for Japan's economy as a whole

A reduction in level of monetary policy accommodation will not be considered in comprehensive review

Balance between benefits and costs of monetary easing can change depending on situation