BOJ’s Kuroda: Will not review monetary policy objectives
|The Bank of Japan (BOJ) Governor Haruhiko Kuroda said that the bank will not review the monetary policy objectives, in his opening remarks at the post-monetary policy meeting press conference scheduled on Friday.
Further comments
Yield curve control is functioning properly.
Will assess various steps such as yield curve control management, asset buying.
Will ease monetary policy further without hesitation as needed.
Corporate funding situation remains severe.
BOJ's regional bank scheme is aimed at stabilising financial system, not targeting monetary policy.
Won't change yield curve control with QQE framework.
Planned assessment doesn't mean BOJ seeking exit from stimulus.
Wrong to think extension of corporate funding programme will prolong 'zombie' companies.
Market reaction
The BOJ Governor Kuroda’s comments have little to no impact on USD/JPY. The spot is off the highs, trading around 103.33, still up 0.24% so far.
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