Ex-BOJ’s Shirai: The timing of BOJ's negative rates was poor

Former Bank of Japan (BOJ) board member Shirai crossed the wires via Bloomberg in the last hour, noting that the central bank has limited options, but to keep the interest rates negative for now.

Key Quotes:

Not much choice but to keep negative rate policy now

Not completely against neg rates

Negative rates should have been introduced at time of tapering

BOJ should not give up on 2% inflation target but hard to see them achieving it in foreseeable future