Free Trial

MNI BRIEF: BOJ Minutes Reveal Members Need To Assess YCC Shift

(MNI) TOKYO

Many Bank of Japan board members assessed the BOJ needed more time to examine the effects of December's modification of its yield curve control policy on market functioning at the January 17-18 meeting, the minutes released Wednesday showed.

“One member noted that some market participants were expecting that further modification of the conduct of yield curve control would take place; however, if the Bank modified its conduct again soon after the previous modification, this could in turn make the future conduct of monetary policy unclear,” the minutes showed.

“A different member added that it might be appropriate for the Bank to closely examine conditions in market functioning and then discuss the conduct of yield curve control if necessary."

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.