Tamura (BOJ): The time for an easy exit from politics should not be too late, but not too soon either

• Whether that happens next year will depend on various data at the time.
• Ending negative rates and controlling the yield curve are options in case the BoJ abandons its accommodative policy
• Even if the BoJ abandons its negative rates, this does not equate to a tightening of its monetary policy.
• Monetary conditions will remain loose no matter what
• It will take more time to determine if the price target will be achieved sustainably.

These are just token remarks at this stage, with the BOJ wanting to speak after July’s adjustments. But they are unwilling to really lead by example when it comes to the larger situation, at least for now.