Bank Of Japan - Toothless Jawboning
We have previously mentioned the BOJ's jawboning about the "end" of their easy money policy which has caused pullbacks in gold, commodities and oil.
Today's offering submitted for your appoval indicates the BOJ is jawboning and neither intends to raise interest rates nor end its easy money policy.
In Tokyo, Bank of Japan Governor Toshihiko Fukui reiterated his commitment to keeping interest rates near zero for a while in an address to parliament.
"We have had the impression that after the ending of the quantitative easing framework (by the central bank earlier this month), the markets correctly understood that zero interest rates will continue for the time being," Fukui told an Upper House financial committee.
He added the central bank has no immediate plans to reduce the amount of government bonds it purchases each month, and that the bond-buying program will continue even when current account deposits fall to a normal level.
Today's offering submitted for your appoval indicates the BOJ is jawboning and neither intends to raise interest rates nor end its easy money policy.
In Tokyo, Bank of Japan Governor Toshihiko Fukui reiterated his commitment to keeping interest rates near zero for a while in an address to parliament.
"We have had the impression that after the ending of the quantitative easing framework (by the central bank earlier this month), the markets correctly understood that zero interest rates will continue for the time being," Fukui told an Upper House financial committee.
He added the central bank has no immediate plans to reduce the amount of government bonds it purchases each month, and that the bond-buying program will continue even when current account deposits fall to a normal level.
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