BOJ's Nakamura: Hard to pinpoint timing of policy shift as of now

<ul><li>It would be risky to change policy on assumption that things would improve moving forward with the Japanese economy</li><li>Now is not the time to consider policy shift</li><li>We can shift policy when Japan's economy sees wages, inflation rising sustainably</li><li>Want to scrutinise firms' profitability in judging timing of policy shift</li><li>Looking at upcoming MOF quarterly business sentiment survey among other data in gauging whether conditions are falling into place for any policy shift</li></ul><p>This has been the thing all year now, hasn't it? They keep kicking the can down the road whilst teasing a change in policy but do not want to firmly commit to it. Right now, all eyes are set on the spring wage negotiations in March and April next year. If that isn't enough to see a stronger shift in the narrative, there will be a price to pay for the Japanese yen.</p>

This article was written by Justin Low at www.forexlive.com.