Central Banks
BOJ Far From Exiting One of World's Longest-Running Negative Rate Regimes, Says Deputy Governor
- Uchida says long way to go before BOJ raises negative rates
- Professes to have no levels in mind for 10-year yields
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Deputy Governor Shinichi Uchida said the Bank of Japan is far from reaching an exit from its current policy framework — and from raising its negative interest rate — after the bank jolted global financial markets last week by adjusting its yield curve control program.
“Needless to say, we do not have an exit from monetary easing in mind,” Uchida said in a speech to local business leaders in Chiba, Japan on Wednesday. “In sum, the bank’s decision to conduct yield curve control with greater flexibility aims at patiently continuing with monetary easing.”