The Bank of Japan will keep pumping out stimulus regardless of any shift in the nation’s political leadership as a result of upcoming elections, or any Federal Reserve tapering moves, according to a former senior executive at the central bank.

"You want to keep letting sleeping dogs lie,” said Kazuo Momma in an interview, referring to the monetary policy stance of Prime Minister Yoshihide Suga and the candidates competing with him in a ruling party leadership contest in September.

"You would be risking a big market reaction by touching monetary policy. So it won’t be a topic of discussion, whoever takes the helm,” the former head of monetary policy at the central bank said.