More from BOJ’s Ueda – Ready to respond to abnormal market moves

Bank of Japan Governor Ueda:

• Our basic stance is that market forces determine long-term interest rate levels.
• We expect long-term interest rates to fluctuate to some extent depending on the market’s view on the economic outlook.
• If markets make abnormal moves, we stand ready to respond nimbly, such as through market operations to smooth market moves.
• Won’t comment on where long-term interest rates could eventually converge.
• Can’t say specifically when exactly BOJ could conduct emergency market operations to soothe yield moves.

This article was written by Eamonn Sheridan at www.forexlive.com.