5/6, 2:25 AM (Source: TeleTrader)
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BoJ to respond effectively to changes in economic developments - minutes

Bank of Japan's members agreed on the importance to continue with monetary easing in a sustainable manner in order to counter the changes in developments in economic activity, meeting minutes from the central bank's latest policy meeting showed.

"In order to conduct yield curve control flexibly during normal times, the Bank will make clear that the range of 10-year Japanese government bond (JGB) yield fluctuations would be between around plus and minus 0.25 percent from the target level. At the same time, it will introduce 'fixed-rate purchase operations for consecutive days' as a powerful tool to set an upper limit on interest rates when necessary," the members agreed.

The central bank, however, pointed out that the resurgence of the virus poses a problem for many regions and that uncertainties regarding the consequences of the pandemic and its impact on the economy remain.

Breaking the News / NL