• But Japan is not in a situation where rates can be raised significantly
• 2% inflation target is not so easy to meet
• Negative interest rates provide the basis for current monetary stimulus
• Appropriate to continue negative interest rates for now
• We are at a stage now to wait and see on December policy tweaks
• Yield target, ETF purchases have had side effects
• But that does not mean it was a mistake to adopt them

He is mixing a lot of different remarks in there but the bottom line is that they are still seeing the current policy settings as appropriate to continue with. However, they are leaving the door open to potentially perform a policy pivot down the road – depending on economic and financial circumstances.

This article was written by Justin Low at www.forexlive.com.