Free Trial

MNI BRIEF: BOJ Nominee Ueda Says Shorter YCC Target An Option

(MNI) Tokyo
(MNI) TOKYO

Bank of Japan governor nominee Kazuo Ueda that shortening the long-term interest rate target would be one option in reviewing the yield curve control policy.

“There are other options but I won’t touch on them now,” Ueda told lawmakers without elaborating.

As for price moves, Ueda said that there are favorable moves with regard to the underlying trend price moves.

“I would like to make utmost efforts to cultivate the seed for the time being,” Ueda said, referring to positive signs of a trend to more stable and sustainable level of inflation.

The biggest target is to achieve the 2% price target in a stable and sustainable manner, Ueda said. “If the target was achieved, the BOJ will decide to stop buying a large scale of government bonds as a natural consequence."

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.