The Bank of Japan should discuss revising its yield curve control (YCC) policy at an early stage, a board member was quoted as saying at a June policy meeting, a summary of opinions at the rate review released on Monday.
While the central bank should keep overall monetary policy ultra-loose, it should debate tweaking YCC to improve market function and mitigate its "high cost," the member was quoted as saying.
"The Bank should maintain the overall framework of monetary easing for the time being," the member said. The dollar fell 0.23% against the yen after the release of the BOJ summary as some market players interpreted the comment as signalling the chance of an early change to YCC.Naoki Tamura
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