December 5, 2018 / 5:42 AM / 6 months ago

BOJ should be ready to ramp up stimulus if needed: Wakatabe

NIIGATA, Japan (Reuters) - Bank of Japan Deputy Governor Masazumi Wakatabe said on Wednesday the central bank should consider ramping up stimulus “without hesitation” if various risks to the economy threaten achievement of its 2 percent inflation target.

“If additional easing becomes necessary, there is room to do so,” Wakatabe said in a news conference after meeting business leaders in Niigata, northern Japan, rebuffing market views that the BOJ has run out of ammunition to expand stimulus.

Under a policy dubbed yield curve control, the BOJ guides short-term interest rates at minus 0.1 percent and long-term rates around zero percent to achieve its 2 percent price goal.

Reporting by Leika Kihara; Editing by Chris Gallagher

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