BoJ Governor Haruhiko Kuroda said today the measures taken in July, allowing 10 year JGB yield to move between -0.1% and 0.1%, “would strengthen the effect of monetary easing as a whole”. It’s because, it “would allow us to continue powerful monetary easing.” And he’s optimistic that “the steps will help accelerate inflation to 2 percent at the earliest date possible, while ensuring financial market stability.”

Meanwhile, Kuroda also warned that “we need to be vigilant of the potential impact of recent protectionist moves, though the economy is likely to sustain a moderate expansion”.

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