Will continue massive bond buying even under new operation decided last week – Crypto News – Crypto News
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There are many issues that need to be better understood regarding inflation expectations. There are many issues that need to be better understood regarding inflation expectations.

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Will continue massive bond buying even under new operation decided last week – Crypto News

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1 year ago

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Bank of Japan (BoJ) Governor Kazuo Ueda addressing a press conference in Nagoya reiterated to patiently maintain monetary easing to support economic activity.

Key Quotes:

  • Japan’s economy recovering moderately.
  • Japan’s economy is likely to continue recovering.
  • Long-term rates may rise somewhat but what’s important is to look at the real interest rate that takes into account inflation expectations.
  • Even if long-term rates rise, real interest rates will move in negative territory so monetary conditions will be sufficiently accommodative.
  • There is uncertainty on whether Japan will see the positive cycle of wage and inflation, as we predict.
  • We will patiently maintain monetary easing to support economic activity.
  • We will continue massive bond-buying even under the new operation we decided last week.
  • We will conduct nimble market operations when interest rates rise, depending on the level and speed of moves of long-term rates.
  • Even if long-term rates come under upward pressure, don’t expect the 10-year JGB yield to sharply exceed 1%.
  • Under YCC, we need to carefully weigh the effect of the policy in stimulating the economy, and the side effects.
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