developing story …
Sharp rise in US inflation partly due to base effect of last year's sharp decline in oil prices.
Developments regarding pandemic and its impact on Japan’s economy, prices highly uncertain.
If some challenges are overcome, stable coins could become widely-used payments and settlement means.
BOJ’s massive stimulus spurred growth, turned output gap positive but that did not immediately lead to rises in wages, prices to appropriate levels.
It's taking time to push up inflation but that does not mean monetary policy is ineffective.
it's possible to prop up inflation with monetary policy though it is taking time due to adaptive nature of Japan’s inflation expectations.
Day-to-day purchases of ETFs depends on market developments, based on guidelines set by BOJ’s policy-setting meeting.
BOJ’s aggressive ETF buying has been effective in mitigating market instability.
Won't comment on specific guidelines on BOJ’s ETF buying as doing so could have unintended effect on markets.
