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- BoJ’s Kuroda: No need to further expand bond target band
BoJ’s Kuroda: No need to further expand bond target band
Bank of Japan (BOJ) Governor Haruhiko Kuroda is speaking at the post-policy meeting conference on Wednesday, saying that there is “no need to further expand bond target band.”
Additional quotes
Will carry out flexible adjustments in market operations by making use of fund-supplying operations against pooled collateral.
Expects market functions to improve ahead.
Still early days since adjustment to yield band made in December, need more time to assess impact on market functions.
Labour crunch expected to push up wages from now on.
Japan’s economy still on path towards recovery from pandemic.
BoJ aiming to achieve 2% inflation target sustainably, stably in tandem with wage growth.
Not expecting 10-year jgbs to continue trading with yields higher than 0.5%.
Expect market functionality to improve by conducting nimble market operations .
Expect output gap to close soon and turn positive.
Will take some time for market's yield curve formation under new policy operation to settle.
Amended rules for funds-supplying operations to encourage yield curve formation consistent with market operation guideline.
Market reaction
USD/JPY was last seen trading at 131.14, +2.35% so far.
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