BOJ's Wakatabe: Yield curve control framework is keeping BOJ in the right direction

Author: Justin Low | Category: Central Banks

Comments by BOJ deputy governor, Masazumi Wakatabe

  • YCC helps BOJ to achieve 2% price target
  • BOJ must ensure to keep easy policy for as long as needed to hit 2% price target
  • March review will mull sustainability, effectiveness
  • March review will examine policy for crisis-readiness
  • BOJ must be ready to cut nominal rates further if needed
This adds to his earlier comments in the day here. To sum up, don't expect anything major in terms of policy overhaul by the BOJ this year as they will just continue to talk up their hand and what is in play currently - considering the limited options that they have.
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