BOJ’s Kuroda: Will not review monetary policy objectives

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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