"If market conditions don't change much from now, the chance of us tweaking yield curve control in July to arrest any distortion in the yield curve will be small," he said.
The remarks were the strongest yet from a BOJ policymaker ruling out the chance of a policy tweak at the next meeting scheduled on July 27-28.
Adachi said the BOJ must look at consumer price data for July onward to judge whether inflation was overshooting its baseline scenario.
But there's high uncertainty over our baseline inflation outlook, so it's premature to tweak monetary policy," he said in a speech to Kagoshima business leaders.
"The BOJ must humbly monitor price and wage developments, and respond not too quickly, but also not too slowly" the second member said.
Persons:
Seiji Adachi, Adachi, Kazuo Ueda, Leika, Shri Navaratnam, Sam Holmes
Organizations:
Bank of Japan, Thomson
Locations:
KAGOSHIMA, Japan, Kagoshima