GIFU, Japan, April 18 Bank of Japan policy board
member Ryuzo Miyao acknowledged on Thursday that there are risks
associated with the central bank's expanded quantitative easing,
but that the policy is necessary to end deflation.
Miyao, in a speech in central Japan's Gifu, also said he
would support QE as long as the benefits outweighed the risks.
Miyao also said that he felt the BOJ had taken all necessary
steps needed to meet its two percent inflation goal.
The BOJ stunned global financial markets earlier this month
by committing to open-ended asset buying to nearly double the
monetary base to 270 trillion yen ($2.71 trillion) by the end of
2014 in a shock therapy to end two decades of stagnation and
achieve 2 percent inflation.