Bank of Japan Governor Kazuo Ueda said on Friday that the central bank’s “Japanese government bond (JGB) holdings will remain at current levels for the time being.” .
Bank of Japan Governor Kazuo Ueda said on Friday that the central bank’s “Japanese government bond holdings will remain at current levels for the time being.” On Thursday, the BoJ Governor noted that he expects to maintain an accommodative monetary policy for the time being, fuelling a bout of intense selling in the Japanese Yen. Market reaction At the time of writing, USD/JPY is trading 0.07% higher on the day at 151.71, slightly off the year-to-date highs.
The bank’s policy is based on Quantitative and Qualitative Easing , or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds.
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