Kamezaki says Japan’s economy

BOJ policy board member Kamezaki says Japan’s economy
likely to recover gradually late this fiscal year, but economy could worsen if overseas economic recovery slows, uncertainty high over economic outlook, must take policy steps proactively based on changes in economic conditions; suggests BOJ remains on guard against downside risks, will take more measures if necessary, but extent will be less drastic than before. Central bank at May meeting upgrades economic assessment for 1st time in nearly 3 years, while keeping policy target at ultra-low 0.1%. JGB players watched to see if Kamezaki would indicate possibility of BOJ boosting JGB purchases, but he just says uncertain if large amount of JGB issuance by government may push yields higher. Kamezaki will meet press for about 30 minutes from 0500 GMT.