Bank of Japan board member Goushi Kataoka advocated a pre-emptive further easing...
HAKODATE, Japan - Bank of Japan board member Goushi Kataoka advocated a pre-emptive further easing in monetary policy, warning of risks to the inflation outlook and the pain spreading through the economy from the bitter U.S.-China trade war.
Inflation likely won’t accelerate toward the BOJ’s 2% target, partly because the yen could strengthen and weigh on import costs as other central banks ramp up stimulus, he said. But Kataoka’s calls for pre-emptive action underscores a growing sense of alarm within the BOJ over the damage the trade war and slowing global demand are inflicting on the world’s third-largest economy.
Kataoka has been among two in the nine-member board who have recently dissented to the BOJ’s decision to keep the rate targets steady. He called for deepening negative interest rates at a rate review in July but did not put the proposal to a vote.
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