MNI BRIEF: BOJ Suzuki: Hopes To See Modest JGB Yield Moves

The Banks of Japan isn't targeting pushing long-term interest rates to move in a wider and slightly more volatile trading band, but, board member Hitoshi Suzuki said Wednesday, he hopes bond yields do move a little. Suzuki told reporters that the recent narrow movements of long-end rates was mainly due to stable overseas markets, especially U.S. Treasury yields.

"I hope long-term interest rates to move flexibly," if price moving factors, such as the outlook for economy and inflation, emerge, Suzuki said.

He also said that the BOJ will decide to extend the lending facilities, if necessary, including possible new tools, while closely monitoring the impact of coronavirus on corporate financing, although he doesn't see a need to modify easy policy now from the viewpoint of maintaining the stability of the financial system.