Ex-Japan MOF Watanabe: BOJ should start reducing its annual bond-purchase target later this year

President of the Institute for International Monetary Affairs in Tokyo and Former Japanese  Ministry of Finance (MOF) Currency Chief, Hiroshi Watanabe, crossed the wires earlier on the day, via Bloomberg, citing:

Japanese economy has recovered enough for BOJ to begin to cut back on its stimulus policy

Should start to reduce its annual bond-purchase target later this year

"Just as an endless intravenous drip becomes ineffective, monetary policy should be changed to reduce stimulus once the economy is no longer facing any headwinds"

"This would create a buffer for future needs. There is absolutely no reason to deter such a decision by saying we have to wait for inflation to reach 2 percent"