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China Repo Rates Diverge on Tuesday


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MNI (Sydney)

It is undesirable and unnecessary for the Bank of Japan to widen the tolerated trading range of the 10-year JGB yield, Governor Haruhiko Kuroda told legislators Friday, dampening market speculation that the BOJ would use the upcoming policy review to allow greater flexibility to the current -0.2% to +0.2% band.

Last week, Hiromi Yamaoka, a former head of the Bank's markets division, told MNI the Board would have little room to do anything other than tweak its policy and expanding the range could actually be counter-productive.

Kuroda told lawmakers that the BOJ, which targets a central 0% rate on 10-year JGBs, aims to keep yields at low levels to balance the downward pressures on the economy from Covd-19.

MNI Sydney Bureau | +61-405-322-399 |
MNI Sydney Bureau | +61-405-322-399 |

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