Bank of Japan urged to step up monetary policy communication

A former policymaker urged the Bank of Japan to improve monetary policy communication following the central bank's surprise announcement it will deliberate over a “comprehensive” review of its policy framework at the Sept. 20-21 meeting.

Former BOJ board member Sayuri Shirai, whose five-year term on the board ended in March, quoted by Bloomberg:

"The BOJ has been a source of market volatility. They've got to improve their communications."

"The announcement of the review came out of nowhere. This will be another source of volatility. Markets are being left wondering whether the BOJ will add to easing or not."

Suprising markets with a major announcement hardly wins any popularity for a central bank.