Bloomberg with the headlines
- BOJ makes request to fin min Aso that the MOF consider a policy
No further details at present
The BOJ's mon pol generates profits as it pays commercial banks almost nothing for excess reserves they park at the central bank and also benefit from positive yields on JGBs that form most of its portfolio
The request is advance planning for when it starts to exit from QQE as pushing up interest rates on excess bank reserves would seriously eat into those profits
USDJPY unfazed at 122.73