Continuing with its earlier comments at the post-meeting press conference, the BoJ Governor Haruhiko Kuroda was further noted saying that there is no need for additional easing for now.
“¢ Forward guidance means to keep rates extremely low for an extended period of time.
“¢ Needed to allow some moves in bond yields in light of market functioning.
“¢ Allowing bond yields to move more flexibly doesn’t mean we intend to raise interest rates.
“¢ We have no specific timeline for hitting 2% target.
“¢ Don’t think policy until now was mistaken.
“¢ JGB market function will improve by allowing more flexible yield moves.
“¢ Increased purchases of topix linked ETFs because they more broadly cover the market.
“¢ Today’s decision is aimed at making QQE more sustainable.
“¢ Possible for ETF purchases to fluctuate around 6 trillion JPY.
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