Bank of Japan Governor Haruhiko Kuroda said on Tuesday that if the central bank ...
OSAKA - Bank of Japan Governor Haruhiko Kuroda said on Tuesday that if the central bank were to ease monetary policy further, it would aim at pushing down short- and medium-term interest rates without flattening the yield curve too much.
But he said the central bank has become more eager to top up monetary support than before due to heightening risks such as the widening fallout from the U.S.-China trade conflict. In pondering additional easing, the BOJ will look not just at the benefits but the rising cost of prolonged easing such as the strain it inflicts on financial institutions’ profits.
Reducing the BOJ’s purchases of super-long government bonds would have a certain effect in preventing excessive falls in yields of those maturities, he added. The BOJ has said it has four tools to ease: deepening negative rates, cutting the 10-year bond yield target, ramping up asset buying and accelerating the pace of money printing.
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