BOJ’s Amamiya: Govt's stimulus package likely to give boost to economy short-term

The Bank of Japan (BOJ) Deputy Governor Amamiya is back on the wires now, via Reuters, speaking about the government’s stimulus package and its impact on the Japanese economy.

Key Quotes:

Govt's stimulus package likely to give boost to economy short-term, help strengthen long-term growth potential.

Govt's stimulus package is appropriate in terms of policy mix of fiscal, monetary support.

Weak consumption data for October likely due to temporary factors like natural disaster.

Must wait for more data to gauge impact of sales tax hike on economy, consumption.

Recent rise in 10-year JGB yield in line with guidance set under BOJ’s yield curve control.

BOJ is in a different situation from Fed and ECB, which are reviewing their policy framework.

Don't see big problem emerging in YCC so we will patiently maintain current monetary easing.