Further comments by BOJ member Hitoshi Suzuki on the day
- Added yield range is not a directly positive move for banks
- Need more time to evaluate moves in long-term yield
- Still deciding if wider yield range is sufficient
- Accumulating side effects of current policy needs attention
- Rate rise is possible for limiting those side effects
- But financial system is stable, at least for now
- "Extended period of time" doesn't mean any specific time
- There is no problem with capital liquidity now
Suzuki is mainly talking about the BOJ's changes in their July monetary policy decision here. Nothing too notable so far and its mainly a reiteration of what we already know for the most part.
There will be some niggling about his meaning of "rate rise is possible" but I don't think he meant it in that way. We all know the BOJ is rather firm on their stance with regards to that so this could be the typical lost-in-translation moment we have seen time and time again from BOJ speakers.
He also made some comments here earlier in the day.
