- No change to the idea that yield curve control strongly supports economic recovery
- Future financial, economic outlooks are extremely uncertain
- BOJ is not aiming for a specific currency level
As is the case with the SNB, the BOJ will find it tough to maintain any credibility in terms of their policy views if they do eventually pivot to tighter policy. For now, they are buying as much time as they can and the yen will find it tough to sustain any turnaround rallies.
