BoJ Governor Kuroda: Appropriate to continue aggressive JGB purchases for now

Haresh Menghani FXStreet

In the post-meeting press conference, the Bank of Japan (BoJ) Governor Haruhiko Kuroda said that it will be appropriate to continue aggressive JGB purchases for now. "If the government issues more super-long bonds, we may buy more (...) the BoJ may buy more bonds to keep yields low but the excessive lowering of super-long yields could hamper the economy," Kuroda added further.

Additional quotes:

Expects inflation to stay in negative territory for now.
The BoJ will maintain the 2% inflation target.
It is possible that new measures will be needed depending on the economy.
Options include lowering rates for yield curve control.
Financial institutions have enough capital, liquidity at the moment.

The Japanese yen had a rather muted reaction to Kuroda’s comments. The USD/JPY pair was last seen trading in the neutral territory, around the 107.40-35 region.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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