Japan's economy is not yet in a phase where the central bank can end yield curve control (YCC), its board member Hajime Takata was quoted as saying by the Nikkei daily, brushing aside the chance of a near-term exit from ultra-loose monetary policy.
Under YCC, the Bank of Japan sets a -0.1% target for short-term interest rates and caps the 10-year bond yield around 0% to achieve its 2% inflation target in a sustainable manner.
Markets are simmering with speculation the BOJ could remove the 10-year yield cap to address the mounting cost of prolonged easing, such as the distortions its huge bond buying is causing in the shape of the yield curve. "Unfortunately, I don't think Japan is in that phase yet," Takata told the Nikkei in an interview published on Saturday, on whether the central bank could ditch YCC.
The remarks echo those of BOJ Governor Haruhiko Kuroda, who has repeatedly stressed the need to maintain ultra-loose monetary policy to support an economy still recovering from the coronavirus pandemic's scar. While it wasn't easy to sustainably achieve the BOJ's 2% inflation target, there were some positive signs in corporate capital expenditure and wages, Takata was quoted as saying.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
US reports another Takata air bag death, bringing toll to 33Most of the deaths and about 400 injuries have happened in U.S. states with warmer weather.
Leer más »
US reports another Takata air bag death, bringing toll to 33The air bags caused one of the largest series of recalls in U.S. history because they can potentially cause explosions strong enough to hurl shrapnel, resulting in injuries and deaths.
Leer más »
US reports another Takata air bag death, bringing toll to 33Honda said the Accord involved in the Kentucky crash had been under recall since April 2011 for replacement of a faulty Takata driver’s air bag inflator.
Leer más »
Another Takata air bag death brings toll to 33, US reportsThe National Highway Traffic Safety Administration said Friday that the person was killed in a crash involving a 2002 Honda Accord. FOX13
Leer más »
US reports another Takata air bag death, bringing toll to 33The air bags caused one of the largest series of recalls in U.S. history because they can potentially cause explosions strong enough to hurl shrapnel, resulting in injuries and deaths.
Leer más »
NHTSA confirms another death from Takata airbags - AutoblogNHTSA has confirmed a new crash death from a faulty Takata airbag. The agency urges you to go to www.nhtsa.gov/recalls to see if your car is in the recall.
Leer más »