September 13, 2018 / 6:33 AM / 2 months ago

Japan bank lobby welcomes BOJ's July move, frets over still-low yields

TOKYO, Sept 13 (Reuters) - The Bank of Japan’s decision in July to make its policy framework more sustainable is a welcome move but bond yields remain very low, the head of the country’s banking industry said on Thursday.

“If powerful monetary easing were to continue for a prolonged period, more scrutiny would be needed on whether this could hurt consumers’ sentiment and weigh on growth,” Koji Fujiwara, chairman of the Japanese Bankers Association, told a news conference.

With inflation remaining distant from its 2 percent target, the BOJ took steps in July to make its policy framework more sustainable, such as allowing bond yields to move more flexibly. (Reporting by Leika Kihara Editing by Chang-Ran Kim)

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