TOKYO (Reuters) – The Bank of Japan can heighten transparency and stabilise markets by clarifying the band at which it allows long-term interest rates to move around its 0% target, several views voiced by the board members at its March meeting showed.
“The BOJ must respond rigidly to protect the upper limit of the range” with its newly introduced market operation, one of the nine board members said, according to the summary of opinions released on Monday.
At the March meeting, the BOJ announced a range of steps to make its ultra-loose monetary policy more sustainable such as clarifying that it will allow 10-year bond yields to move up and down 0.25% each around its 0% target.
(Reporting by Leika Kihara; Editing by Chang-Ran Kim)
