Ex-BOJ’s Shirai – Don’t think BOJ has a lot of room left to cut rates further

Ex Bank of Japan (BOJ) member Shirai was on the wires today stating the bank should not do more easing this month and added that there is not enough room left to cut rates further.

Key quotes

It's a tough situation for the BOJ as the yen advanced rapidly, but further easing doesn't necessarily stop that

It's possible that action now would invite more demand for stimulus from markets and then more speculative trading. This should be avoided