He says that new BOJ governor, Kazuo Ueda, is right to have judged that there is no need to change the yield curve control (YCC) settings for now. This is consistent with what he said last month already, in which he mentioned that „it is my understanding that Mr. Ueda will continue with the BOJ’s current stance“.

Do be reminded that if we are to see the BOJ change up its view on monetary policy, it would need a sort of unspoken validation from the government. And it doesn’t seem like we are at that point yet.

This article was written by Justin Low at www.forexlive.com.