The headline comments from Bank of Japan Deputy Governor Uchida are here:
Its from the Nikkei, which is usually gated, but if you can access it here is the link:
Yeah, he isn’t indicating any near-term change to YCC:
- Uchida said he was “very aware” of yield curve control’s effect on market functions. “We want to make a balanced decision” on tweaking this policy, he said, “with an eye on monetary interventions and market functions, and on how well we can maintain monetary easing.”
- “We will continue YCC” for the time being, he said.
On the ‘tweak’ back in December when the Bank of Japan expanded the range it tolerated for the 10 year JGB yield:
- “We were seeing more of a boost from easing, but we were also experiencing greater side effects in terms of the bond market’s functions,”