Reuters: US Dollar Report: BOJ's Sato: won't rule out further steps if risks materialise

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BOJ's Sato: won't rule out further steps if risks materialise Jul 22nd 2013, 02:37 FUKUSHIMA, Japan, July 22 | Sun Jul 21, 2013 10:37pm EDT FUKUSHIMA, Japan, July 22 (Reuters) - Bank of Japan board member Takehiro Sato said on Monday the central bank has abandoned its previous approach of taking incremental policy action but will not rule out offering additional stimulus if unexpected risks to the economy materialise. China's economic slowdown is worrying but is unlikely to be a huge constraint to Japan's economic recovery, Sato said. "The BOJ does not exclude the implementation of additional measures and will not hesitate to fine-tune its policies flexibly when unexpected tail risks materialise," Sato said in a speech to business leaders in Fukushima, northeastern Japan. A former economist who joined the BOJ last year, Sato has voted for the central bank's aggressive monetary stimulus in April but has voiced doubts on the feasibility of its pledge to achieve 2 percent inflation in roughly two years.

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