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- BOJ's Kuroda to seek ways to make stimulus 'nimble' in review
BOJ's Kuroda to seek ways to make stimulus 'nimble' in review
Reuters reports that Bank of Japan Governor Haruhiko Kuroda said the central bank’s planned policy examination will seek to make its stimulus programme “nimble” to counter future shocks, such as the coronavirus crisis that has deepened the country’s recession.
While the BOJ will not overhaul its yield curve control (YCC) policy, it will examine whether its operations, tools and asset purchases are working well, Kuroda said on Thursday.
“If there is anything more that can be done to make our policy more effective and sustainable, we’ll put it into place,” he told a meeting of business lobby Keidanren.
Simply maintaining YCC for a prolonged period is not enough, Kuroda said, stressing the examination will seek to address any rigidity that may have emerged from years of massive stimulus.
In a rare acknowledgement of the disadvantages of prolonged easing, Kuroda said the BOJ’s stimulus was not without costs such as market distortions caused by its huge asset buying and the hit to bank profits from ultra-low interest rates.
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