MNI BRIEF: BOJ Maintains Scale of JGB Ops in February
The Bank of Japan on Monday left the frequency and the scale of Japanese government bond purchase operations in February unchanged from January amid the distortion of bond markets.
BOJ Governor Haruhiko Kuroda on Monday told lawmakers that more time was needed to assess the impact of the December’s decision to widen the range around its 10-year yield target.
Kuroda told lawmakers that distortions in financial markets hadn't t been corrected but the functioning of financial markets will improve due to BOJ’s flexible open market operations.
He added that December’s decision wasn't a move towards a normalisation of monetary policy, but the decision was aimed at restoring the function in financial markets and ensuring the sustainability of monetary policy.