Comments by BOJ deputy governor, Masazumi Wakatabe
- Sees no need to make big changes to YCC framework as well
- No need to change target range for JGB 10-year yields
- But says BOJ may preemptively take action if board can agree that it will be difficult to achieve 2% inflation target
He's also saying that if the current BOJ statement can be read to mean that the central bank will act without hesitation if the economy loses momentum, then they won't need to add new commitments to their forward guidance.
I reckon that's clear to markets but really with QQE and negative rates, how much more can they push the limits of loose monetary policy?