BoJ's Amamiya Says Global Uncertainties Warrant Attention

Uncertainties over the global outlook continue to warrant attention and the Bank of Japan is cautious about future developments, Masayoshi Amamiya, BoJ deputy governor said Thursday.

However, there are signs of a pick-up in the global economy, he told business leaders in Okayama.

The banker observed that there is high uncertainty over the outcome of the US-China trade negotiations.

Regarding Japanese economy, he said domestic demand will avoid a large decline although the momentum is set to decelerate temporarily in the short run due to global slowdown and sales tax hike.

With regard to exports and production activity, some weakness has continued to be observed, Amamiya said.

Taking into account the downside risks to economic activity and prices, the policy stance of being tilted toward monetary accommodation will be appropriate for the time being, the banker said.

The bank will not hesitate to take additional easing measures if the momentum toward achieving the price stability target is lost, Amamiya added.

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