Bank of Japan Governor Ueda repeats its appropriate to maintain YCC, easy monetary policy

Bank of Japan Governor Ueda is speaking from the Japanese parliament today.

• appropriate to maintain YCC and easy monetary policy given current economic, price and financial developments
• Japan's bond yield curve is currently smooth as a whole
• if wages and inflation rise more than expected the Bank of Japan will tighten monetary policy, such as by increasing interest rates

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Ueda indicated steady policy at this week's meeting (April 27 and 28) in remarks yesterday:

• Has BOJ Gov Ueda dismissed any change to YCC at this week's policy meeting? Looks like it

Earlier previews of the coming meeting:

• BOJ meet this week - preview - YCC to be abandoned but not until July
• BOJ meeting preview - Deutsche Bank expect a policy revision, 3 scenarios
• Has BOJ Gov Ueda dismissed any change to YCC at this week's policy meeting? Looks like it

• JPY: The devil in the BOJ details - Barclays

And this one highlights a potential change to YCC:

• BOJ meeting this week - preview - the BOJ may move on a 5-year JGB target option