Summary of key points from the press conference with Bank of Japan Governor Haruhiko Kuroda.
1. The pace of policy adjustments depends on the economy and inflation. If the economic outlook improves, interest rates will be raised; the likelihood of the economic outlook improving is increasing.
2. It is difficult to determine the specific neutral interest rate level in advance. Currently, there is still a distance from the low end of the neutral interest rate range; if the opportunity arises, we would like to recalculate the neutral interest rate.
3. If interest rate hikes are delayed, there may be a need for a substantial and rapid rate hike in the future; the risk of interest rate hikes exceeding the neutral rate cannot be denied.
4. We will not directly comment on changes in long-term yields; we will closely monitor fluctuations in long-term government bond yields and, if necessary, will flexibly engage in bond purchases.
5. Paying attention to the impact of a weak yen on price trends.
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