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MNI BRIEF: BOJ Ueda: Continuing With YCC Appropriate Now

(MNI) Tokyo
(MNI) TOKYO

It is appropriate for the Bank of Japan to continue with its current yield curve control, given current economic and price conditions, Governor Kazuo Ueda said on Tuesday.

“The yield curve is smoothing now in the wake of the SLF (Securities Lending Facilities), widening the 10-year interest rate range (decided in December) and the drop of interest rates overseas,” Ueda told lawmakers.

Ueda’s remarks indicated that the BOJ is expected to keep monetary policy unchanged on April 28, Ueda's first meet as Governor, despite speculation in markets that easy policy could be tweaked.

If prices and wages rise beyond expectations, the BOJ would manage monetary policy, such as raising interest rates appropriately, he added, noting the central bank is aiming for price stability along with wage hikes.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
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MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
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