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- BOJ’s Wakatabe: No plan to modify central bank’s monetary policy
BOJ’s Wakatabe: No plan to modify central bank’s monetary policy
There is “no plan to modify the Bank of Japan’s (BOJ) monetary policy,” the central bank’s Masazumi Wakatabe said in a statement on Thursday.
Key quotes
“Don't see any problem with recent moves in 10-year JGB yields as they are moving within the 50-bps range set around BOJ’s 0% target.”
“BOJ ready to ease policy further if downside risks heighten, but now is not the time to debate doing so.”
“BOJ could cut rates if downside risks to economy heighten. “
“Expected decline in monetary base will likely prove temporary.”
“Current inflation seen in Japan isn't driven just by cost-push factors, also reflects solid demand.”
“Hard to achieve BOJ’s 2% price goal with cost-push inflation alone.”
Market reaction
USD/JPY is trading 0.07% on the day, at 114.52, underpinned by the rebound in the US dollar and the Treasury yields.
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