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Kuroda spends press conference talking up effectiveness of YCC

BOJ
  • Nothing to shock in the press conference , as Kuroda continues to stress the need to foster wage growth, while talking up the ability to implement YCC, playing down the need for changes to those parameters (albeit with a hat tip to the need to consider side effects of the Bank's prolonged easing).
  • Kuroda has said that the fund ops moves don't signal the limits of YCC and that it is one tool for supporting the YCC programme.
  • Kuroda spent much of the press conference talking up the effectiveness of YCC and the tweaks announced today were designed to help the functioning of that policy.

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