BOJ must ease policy further at some point – Abe advisor Yamamoto

FXStreet (Mumbai) - The Bank of Japan (BOJ) advisor Yamamoto was on the wires today, reiterating that the central bank needs to ease policy further, preferable at the Oct 30 meeting.

Key Quotes

BOJ can hold off next week as it probably needs more time to gauge Q3 growth.

Japan should deploy fiscal stimulus of around JPY 3.5-5 trln.

More easing may spur further yen falls, but demerits of weak yen can be offset by additional fiscal stimulus
USDJPY is still around levels before the Lehman crisis so "a bit more" gain still beneficial for the Japanese economy.

Oct 30 meeting may be appropriate timing for easing