Not thinking about selling long-term JGBs as tool to adjust interest rates

Bank of Japan (BoJ) Governor Kazuo Ueda spoke in the Japanese parliament on Friday, noting that he is “not thinking about selling long-term JGBs as a tool to adjust interest rates.”

Additional quotes

Reduction in JGB purchases would represent just 7-8% of balance sheet, not large reduction.

If economy moves in line with our projection, there will be phase where we can adjust interest rates a little further.

 Communicating with overseas counterparts through various ways.

Believe Deputy Gov Uchida’s remarks in August were appropriate.

Basic stance is monitor how market moves affect economy when considering monetary policy ahead.

No comment on rulung party lawmakers’ remarks on monetary policy before July meeting.

July decision followed our thorough analysis on economy, price situations.

 

 

Source: https://www.fxstreet.com/news/bojs-ueda-not-thinking-about-selling-long-term-jgbs-as-tool-to-adjust-interest-rates-202408230551