BoJ’s Asada: Terminal Rate Could Be Higher Than Initially Expected

Neutral Rate Is Within BoJ s Estimated Range, Though May Be Below Its Upper End - Degree Of Monetary Accommodation Has Been Falling - Underlying Inflation Is Consistent With Target, Though Rate Hikes Risk Lowering The Inflation Trend - Consumer Spending Is Not Strong Enough To Drive The Economy - FX Itself Is Not A Monetary Policy Target - BoJ Will Maintain Close Communication With Government