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MNI BOJ WATCH: Kuroda Dismisses Market Speculation On YCC Hike

(MNI) Tokyo
(MNI) Tokyo

BOJ Governor Haruhiko Kuroda talked down a widening of the YCC band but left open the possibility of a shift to a shorter maturity.

Bank of Japan Governor Haruhiko Kuroda dismissed the chance of a near-term policy change, citing downside risks to economy and inability to achieve the 2% price target over the bank's projection period, but he left open the possibility of shifting the yield curve control policy to a shorter maturity.

“I don’t see the need to further widen the range of the 10-year interest rate” and the BOJ needs to maintain easy policy to support the economy, Kuroda told reporters after the BOJ maintained its monetary policy settings on Wednesday, including the 50bp band around its 10-year yield target. (See: MNI BRIEF: BOJ On Hold; Keeps Forward Guidance; Expands Ops)

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Bank of Japan Governor Haruhiko Kuroda dismissed the chance of a near-term policy change, citing downside risks to economy and inability to achieve the 2% price target over the bank's projection period, but he left open the possibility of shifting the yield curve control policy to a shorter maturity.

“I don’t see the need to further widen the range of the 10-year interest rate” and the BOJ needs to maintain easy policy to support the economy, Kuroda told reporters after the BOJ maintained its monetary policy settings on Wednesday, including the 50bp band around its 10-year yield target. (See: MNI BRIEF: BOJ On Hold; Keeps Forward Guidance; Expands Ops)

Keep reading...Show less