BoJ’s Noguchi: Main scenario is that future rate hikes are likely to be slow

Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the “main scenario is that future rate hikes are likely to be slow, but that depends on economic data.”

Additional quotes               

Will take into account cost-driven inflation and policy adjustment if higher wages lead more to higher prices.

It will take a considerable amount of time till positive cycle takes root.

The likelihood of reaching 2% inflation target in about 2 years is rising.

Some big firms are benefiting from weaker Yen.

Prolonged Yen weakness could have various impacts including on wages and prices.

Those factors will have to be taken into account when deciding monetary policy.

BoJ will cautiously monitor the likelihood of achieving 2% trend inflation.