New Bank of Japan governor Kazuo Ueda has embarked on a comprehensive review of policy, in addition to scrapping part of the bank’s forward guidance.
Following the Bank of Japan's first monetary policy meeting with Ueda as governor, the BoJ said it had dropped a part of its forward guidance that had previously detailed the bank "expects short- and long-term policy interest rates to remain at their present or lower levels". In a news conference today (28 April), Ueda said the move would allow the central bank to shift policy "due to changes in economic and price developments". Ueda concluded: "It is good to be ready for in case things proceed as we hope, and if it does not." BoJ's Ueda: Yield curve control likely to be maintain...
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