If bond market function remains in current state, chance of tweaking YCC in July is low – Crypto News – Crypto News
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Central bank's policy seen on hold despite CPI rise Central bank's policy seen on hold despite CPI rise

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If bond market function remains in current state, chance of tweaking YCC in July is low – Crypto News

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Further comments are flowing in from the Bank of Japan (BoJ) board member Seji Adachi, this time speaking about the central bank’s yield curve control (YCC) policy.

Key quotes

Feel it will be tricky to judge inflation as overshooting our projection as a trend, and tweak policy, just with data available by our July meeting.

Want to look at several months’ price data, and speed of price moves, in gauging price trend.

We won’t tie monetary policy to price moves alone, will also look for any distortion in yield curve, bond market functions.

What to do with our overshoot commitment will be tied to our decision on what we do with YCC.

Using monetary policy as a tool to arrest the weak yen would hamper progress made in achieving the 2% inflation target.

We do not use monetary policy to directly manipulate FX rates.

Market response

USD/JPY was last seen trading at 141.7, adding 0.22% on the day.

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