Kiuchi speaking with media now following his earlier speech

  • Frequently raising yield target may spur speculation of further hikes, make it hard for BOJ to control yields
  • Increasing BOJ's JGB buying comes at a cost

K, tks

Via Reuters

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More (via Bloomberg):

  • Bank of Japan has difficulty implementing market operations for YCC
    Costs to the BOJ for increasing JGB purchases
  • Is a chance that BOJ monetary policy could get stuck
  • Vital to reduce JGB purchases in an orderly fashion
  • Damaging BOJ balance sheet a headwind for stable prices
  • Increasing BOJ balance sheet has large costs
  • Could be a big shock to BOJ finances at exit


More:

  • Dangerous for the Bank of Japan to believe it must achieve 2% inflation target at all cost

Meanwhile the yen is not doing much at all on all this.