BOJ Likely to Stay on `Virtual Normalization' Path, Kiuchi Says
- Amamiya will have bigger policy impact than Wakatabe, he says
- He says BOJ could switch yield target to 5-year bonds in 2018
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The Bank of Japan will likely continue its “virtual normalization” of monetary policy under its new leadership, former board member Takahide Kiuchi said.
The appointment of reflationist Masazumi Wakatabe as a deputy governor is unlikely to change the course of policy toward additional easing, as some in the markets are speculating, Kiuchi said on Bloomberg TV on Tuesday.
The nomination of Executive Director Masayoshi Amamiya to the other deputy governor position is more important when gauging the course of monetary policy, Kiuchi said.