Free Trial

MNI BRIEF: BOJ's Uchida: Widening 10-Yr Rate Same As Rate Hike

TOKYO (MNI)

A senior Bank of Japan official said on Tuesday that widening the 10-year interest rate range setting of plus/minus 0.25% is equivalent to raising interest rates and it is undesirable for Japan’s economy facing downside risks.

Shinichi Uchida, the BOJ executive director in charge of monetary policy told lawmakers that it is important to support economic activity as Japan’s economy is in a process of recovering from Covid-19. He added that it is appropriate for the BOJ to maintain the current stance of keeping the 10-year rate around zero percent.

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.