Bank of Japan Governor Kuroda appearing in the Japanese parliament
- Don't see immediate need to change short, long-term rate target levels
- Japan's yield curve moving in line with shape we considered desirable at previous policy meeting
- Have absolutely no plan to reduce BOJ's JGB holdings now
- Won't be surprised to see super-long JGB yields rise a bit more, BOJ won't attempt to push down super-long JGB yields if they rise more
- Don't believe it is desirable for Japan's yield curve to flatten
- Recent 10-yr JGB yields moving in line with BOJ's target of around zero pct
Headlines via Reuters
more to come
Yen not doing too much. The USD is stronger against the EUR & CHF though. Cable is weaker.
Added ... USD/JPY slipping under 104.50