Kuroda has achieved a lot, including better employment by implementing ultraeasy monetary policies. You shouldn't change a strategy when you're winning, in sport or anything.

With such low inflation, near-stagnant property prices and a very stable currency, they can still keep monetary policy nice and loose. What would be the point of tightening.

Hamada talks about improvement in employment, but since when was that stated as the objective of the BOJ's policy?

The policy hasn't achieved its own objectives, and yet is accompanied by risks.

Given that the policy has proven ineffective as judged by its own objectives, how can it be rational to continue to run the risks?

The scary thing is that those who pointed out the risks of the policy have been removed from the BOJ policy committee, and replaced even by a guy who is dissenting in the other direction - for even more crazy policy.

The risks of the policy may not come to fruition, but it's not worth the risk of taking the risk when the policy has failed, as measured by its stated objectives.

"Japan’s overall residential property price index rose by 4.7% (4.2% inflation-adjusted) in January 2017 from the same period last year, according to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT). Nationwide, condominium prices were up by 5.2%, detached house prices increased 2.7% and residential land prices rose by 4.8% over the same period."

These are average numbers, in Tokyo & Osaka property prices have been up sharply in past few years. Kuroda policies have caused sharp asset inflation in Tokyo & Osaka and hurt the finances especially of the young & young families.