- BOJ’s Kuroda: Clarified fixed-rate operations to ensure upper cap on 10-year yield target
Market news
BOJ’s Kuroda: Clarified fixed-rate operations to ensure upper cap on 10-year yield target
“We clarified fixed-rate operations to ensure the upper cap on 10-year yield target,” Bank of Japan Chief Haruhiko Kuroda, said while addressing the post-monetary policy decision press conference.
Additional quotes
Risks to economy skewed to downside for time being but will be balanced thereafter.
Won't hesitate to easy monetary policy further if necessary.
2% inflation will not be sustained as energy hikes fade.
More time is needed to achieve 2% price target.
Recent rise in raw material prices lead to downward pressure in prices by bringing negative effect to economy.
Market reaction
USD/JPY is holding fort above 130.00, as investors digest the BOJ’s dovish stance. The pair rallied hard from near the 128.60 region to hit fresh 20-year highs at 130.27.
At the time of writing, the pair is trading at 130.08, up 1.30% on the day.
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