Most members of the Japanese bank believe that there is no need to further adjust the yield curve control policy

Nguyễn Thành Lợi

Minutes of the meeting released by the Bank of Japan on Monday showed that most members of the Bank of Japan believed there was no need to further adjust the yield curve control policy and agreed to continue applying the policy. loose monetary policy to achieve inflation and wage growth targets.

Last Tuesday, the Bank of Japan once again adjusted its bond interest rate control policy, further loosening its control of long-term interest rates and taking another small step toward ending its massive stimulus plan. big

The Bank of Japan kept its ultra-low interest rates unchanged at its September 21-22 meeting and pledged to continue supporting the economy until inflation sustainably reaches its 2% target, suggesting the Bank of Japan is in no hurry to cancel its giant stimulus plan.

Minutes of the September meeting showed that after the central bank decided to increase flexibility in yield control in July, members unanimously believed that the long-term interest rate trend was consistent with market operating policy. bank school.

“At that time, long-term US interest rates had not yet increased, so the minutes showed the measures taken by the BOJ on Last week was not predicted until recently.”

Muguruma added that at the September meeting, the Bank of Japan's view on price growth turned positive, but members remained cautious about adjusting policy.

Some members said that the abolition of negative interest rates and yield control policies must be discussed along with the Bank of Japan's successful achievement of the 2% inflation target.

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Last updated: 11/06/2023 05:36

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