August 29, 2019 / 5:47 AM / 3 months ago

BOJ's Suzuki: No need to be too rigid about long-term yield moves

FILE PHOTO - Bank of Japan (BOJ) new policy board member Hitoshi Suzuki attends a news conference at BOJ headquarters in Tokyo, Japan July 25, 2017. REUTERS/Issei Kato

KUMAMOTO, Japan (Reuters) - Bank of Japan board member Hitoshi Suzuki said on Thursday the central bank did not need to be too rigid about the range in which it allows 10-year bond yields to fluctuate around its 0% target.

“We don’t need to be too rigid about the range. At times, yield moves might be somewhat extreme,” Suzuki told a news conference after meeting with business leaders in Kumamoto, southern Japan.

BOJ Governor Haruhiko Kuroda has signaled that the central bank would allow 10-year bond yields to move roughly 40 basis points around its 0% target.

Global bond yield declines briefly pushed Japan’s 10-year yield JP10YTN=JBTC to -0.285% on Thursday, its lowest since July 2016 and well below the -0.2% level that market players perceive as the BOJ’s effective line in the sand.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below