Bank of Japan member Naoki Tamura: The Bank of Japan should review its monetary policy framework.

Bank of Japan member Naoki Tamura: The Bank of Japan should review its monetary policy framework.

Whether the BOJ needs to adjust its ultra-loose monetary policy will depend on the outcome of the review.

The review could come sooner or later, depending on prices, wages and the economic outlook.

The BOJ should consider the 2% price target as a flexible target, as this level may be too high for Japan.