The Bank of Japan (BoJ) Deputy Governor Wakatabe (a dove) was on the wires last minutes, via Reuters, speaking on the economy and monetary policy in Parliament.
Key Points:
No specific policy in mind for future use.
Not thinking about buying Treasuries for monetary policy.
Sees some problems with the BOJ purchasing Treasuries.
Market participants trust Japan’s fiscal policy.
BoJ bond buying isn’t to finance the government.
2% inflation target remains distant.
Too early to talk about specifics of any exit.
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