Bank of Japan defends yield curve control measures, intends to stick to ultra-easy monetary policy
Publishing timestamp: 2023-01-20 06:35:21
Summary
Bank of Japan Governor Haruhiko Kuroda defended the central bank's decision to widen its trading band in its yield curve control program and committed to continuing its "extremely accommodative" expansionary monetary policy. He said that the decision to widen the tolerance range for yield on its 10-year government bond was "not wrong". Despite the move, 10-year JGB yields have exceeded the upper ceiling several times. Kuroda expressed regret that the 2% inflation target has not been achieved in a sustainable and stable manner.
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