The central bank could revise up its price forecasts again in January, which would allow policymakers to justify pulling short-term interest rates out of negative territory, he said.
"There's a chance the BOJ could end negative rates as early as January next year, if it judges that inflationary pressure is heightening," Maeda told Reuters in an interview on Wednesday.
It also applies a charge to a pool of excess reserves to guide short-term rates at -0.1% under its negative-rate policy.
Before adopting negative rates and YCC in 2016, the BOJ was pushing down long-term rates solely with a huge asset-buying programme called "quantitative and qualitative easing" (QQE).
"After ending negative rates, the BOJ's policy would look quite similar to when it just had QQE," Maeda said.
Persons:
Issei Kato, Eiji Maeda, Maeda, There's, BOJ, Leika Kihara, Gerry Doyle
Organizations:
Bank of Japan, REUTERS, Rights, Bank of, Reuters, Chibagin Research, Thomson
Locations:
Tokyo, Japan, Bank of Japan