Bank of Japan Deputy Governor Shinichi Uchida said the central bank will maintain its yield curve control policy from the perspective of sustaining ultra-loose monetary conditions, the Nikkei newspaper reported. | Reuters
“We want to make the decision from the perspective of how to sustain easy monetary conditions, while taking into account impact on financial intermediation and market function,” Uchida was quoted as saying by Nikkei, when asked about the chance of modifying a cap the BOJ sets on long-term interest rates.
Uchida ruled out the chance of an early end to negative short-term rates, saying any such move would be tantamount to a 0.1- percent interest rate hike and was inappropriate in light of current economic conditions, according to Nikkei.
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