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Top related persons:
Shinichi Uchida's - 2 Leika Kihara - 2 Sam Holmes - 2 Ueda - 1 Kazuo Ueda - 1 Conor Humphries - 1 Kazuo Ueda's - 1 Stefan Angrick - 1
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TOKYO United States Japan BOJ
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Bank of Japan - 2 Thomson - 2 Nikkei - 1 Federal - 1 Moody's - 1

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2 mentions found


☆ Bank of Japan may keep ultra-low rates, debate tweak to yield cap
  + stars: | 2023-07-27 | by ( Leika Kihara | ) www.reuters.com   time to read: +4 min
The Nikkei newspaper reported the central bank will maintain its 0.5% cap for the 10-year government bond yield, but discuss allowing long-term interest rates to rise above that level by a certain degree. Under yield curve control (YCC), the BOJ guides the 10-year bond yield around 0% and sets an allowance band of 0.5% above and below that target. At the two-day meeting ending on Friday, the BOJ is widely expected to maintain the 10-year yield target and a -0.1% target set for short-term interest rates. The BOJ's meeting comes after the Federal Reserve's decision on Wednesday to raise interest rates, a move that further widens the interest rate gap between the United States and Japan. That changed last year, when soaring commodity prices pushed inflation above the 2% target and gave investors reason to attack the yield cap.
Persons: Ueda, Kazuo Ueda, Shinichi Uchida's, Leika Kihara, Sam Holmes, Conor Humphries Organizations: Nikkei, Bank of Japan, Reuters, Federal, Thomson Locations: TOKYO, United States, Japan
☆ BOJ leaning towards keeping yield control steady next week - sources
  + stars: | 2023-07-21 | by ( Leika Kihara Takahiko Wada | Leika Kihara | Takahiko Wada | ) www.reuters.com   time to read: +4 min
Some market players bet the central bank could widen the allowance band set around its yield target to arrest market distortions caused by its heavy bond buying. With the 10-year yield moving stably below the 0.5% yield cap, however, many BOJ policymakers see no imminent need to take fresh steps against the side-effects of YCC, the sources said. Notwithstanding abrupt moves in the bonds and yen, the BOJ is likely to make no changes to its policy framework next week, they said. "We expect the BOJ will keep major policy levers unchanged next week," said Stefan Angrick, senior economist at Moody's Analytics. More than three-quarters of economists polled by Reuters said they expect the BOJ to keep policy steady including its yield control scheme next week.
Persons: Shinichi Uchida's, Kazuo Ueda's, Stefan Angrick, Leika Kihara, Takahiko Wada, Sam Holmes Organizations: Bank of Japan, Moody's, Reuters, Thomson Locations: BOJ, TOKYO
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