March 15, 2023 00:09 GMT
MNI BRIEF: BOJ Minutes Reveal Members Need To Assess YCC Shift
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."
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