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Bank of Japan's Harada: Don't see need to ease at next rate review
October 12, 2016 / 5:51 AM / a year ago

Bank of Japan's Harada: Don't see need to ease at next rate review

MATSUMOTO, Japan (Reuters) - Bank of Japan board member Yutaka Harada said on Wednesday he saw no need now to ease monetary policy at the bank’s next rate review on Oct. 31-Nov. 1 given improvements in the job market.

He also said the BOJ should allow 10-year government bond yields to fall below its target by holding off on reducing bond buying, if such yield falls are driven by negative shocks to the economy.

“By keeping up the 80 trillion yen per year bond buying and allowing interest rates to fall (below the BOJ’s target), the BOJ can avoid tightening monetary conditions,” Harada told a news conference after meeting business leaders in the central Japan prefecture of Nagano.

Reporting by Leika Kihara; Editing by Chris Gallagher

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