February 3, 2017 / 1:03 AM / a year ago

Some BOJ members called for flexibility in meeting yield target - minutes

TOKYO (Reuters) - A few Bank of Japan policymakers said the central bank should not set a rigid range in trying to achieve its target of guiding 10-year government bond yields “around zero percent,” minutes of its December rate review meeting showed on Friday.

“Some in the market believe that the BOJ wants to guide the 10-year bond yield at a range of minus 0.1 percent and plus 0.1 percent. But it would be inappropriate to set such uniform standards,” a few members were quoted as saying at the meeting.

At the Dec. 19-20 policy meeting, the BOJ maintained its pledge to guide short-term interest rates at minus 0.1 percent and the 10-year bond yield around zero percent.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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