BoJ Deputy Governor Uchida (post-policy press conference) says the primary difference between April and June is the reduced risk on the economy
- Today's decision took into account the risk of having to raise rates by a large margin if policy adjustment is delayed.
- Not thinking about changing the pace of ETF offloading.
- No comment on day-to-day market moves.
- Pace of JGB purchases could change depending on the readiness of market participants to replace the BoJ as the major buyer.
- Not thinking that rate hike and bond policy are contradictory.
- No proposal to hike rates by 50bps.
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