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MNI BRIEF: BOJ Move Not JGB Band Widening - Kuroda

(MNI) LONDON
TOKYO (MNI)

The Bank of Japan did not widen the tolerated trading band for the benchmark 10-year JGB Friday, but just clarified the ambiguous position going into the meeting, Governor Haruhiko noted in a post-meeting press conference Friday.

Kuroda had told legislators earlier this week the BOJ would not look to extend the trading range at this meeting. Logically, he will hang his comments on the fact the BOJ previously had an uncodified range of -/+ 20 bps but had previously allowed 10-year yields to fall to -0.29%.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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