BOJ Nakamura says Japan is no longer in deflation, but that mindset yet to be eradicated

<p>Bank of Japan monetary policy board member</p><ul><li>
BOJ must patiently maintain easy policy for time being</li><li>Japan's economy no
longer in deflation but deflationary mindset is yet to be eradicated</li><li>Current rise in
deflation driven by pass-through of import costs, yet to be driven by
wage gains</li></ul><ul><li>
Must scrutinise whether small, midsize firms are making progress in
earning enough profits to sustain wage rises</li><li>Tightening monetary
policy before rise in sales prices lead to wage gains would curb
demand, weigh on companies' ability to earn profits</li><li>Tweak to monetary
policy needs scrutiny of economic conditions, cautious approach</li><li>Need more time to
shift to monetary tightening</li><li>Sustainable, stable
achievement of price target yet to be foreseen</li><li>Japan's economy
recovering moderately</li></ul><p>–</p><p>Nothing here from Namura indicating he is of the mindset to trim back the Bank's super-easy monetary policy. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.