Bank of Japan (BOJ) Deputy Governor Shinichi Uchida crossed wires via Japan’s Nikkei news, reported Reuters, as he ruled out an early end to the ultra-easy monetary policy while also defending the Yield Curve Control (YCC) policy.

BoJ’s Uchida cites current economic conditions while turning down talks of exiting negative rate policy.

“BOJ ‘strongly acknowledges’ the side-effects of YCC such as the impact on market function,” said Uchida per Nikkei reported Reuters.

It should be noted, however, that the policymaker also signaled the need for the bank to react to the signs of change in corporate wage and price-setting behavior.

BoJ’s Uchida was quoted saying that the risk of missing the opportunity to achieve our 2% target with a premature policy shift is bigger than that of being too late in tightening policy and allowing inflation to continue running above 2%