The Bank of Japan (BoJ) Deputy Governor Amamiya was on the wires again, via Reuters, noting that “some business executives I met in Kyoto urged BoJ to guide monetary policy with an eye on side-effects of prolonged easy policy.”
Additional Headlines (via Reuters):
There is no change to buying roughly 6 trillion JPY of ETFs per year, but the pace could fluctuate depending on market conditions.
No comment on short-term JGB market moves.
Too early to assess market moves after Tuesday’s BoJ action.
BoJ will buy JGBs promptly and appropriately if yields rise sharply.
The sales tax hike had a big impact on the economy in the past, we will take that into account in judging how long low rates will continue.
Our new forward guidance on rates is not calendar based. No set timing in mind on how long rates will stay low.
There were slight differences in views among board members on how much allowance there should be in guiding 10-year yields around zero.
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