Comments by BOJ deputy governor, Masayoshi Amamiya
- Will need to support the economy, achieve 2% inflation target
- YCC has affected bond market functions, many of which have shown deterioration
- Important to balance market function and to control yields
- There is room to make some tweaks
- Fed's current inflation strategy is in line with that of the BOJ
I don't think there is much argument with the headline comment. I mean when you own more than two-thirds of the JGB market, control isn't much of an issue rightfully.
But his other remarks suggest that they may be open to more flexibility moving forward but we'll see whether or not they will tweak things in the upcoming review this month.
