BoJ’s Takata: Won't comment on JGB yield levels

Bank of Japan (BoJ) Board Member Hajime Takata is back on the wires this Wednesday, saying that he “won't comment on Japanese government bond (JGB) yield levels.”

Additional quotes

Long-term interest rates moving in line with state of Japan's economy.

Real interest rates remain negative.

Still not at stage to debate sale of the BoJ’s ETF holdings.

How to unload BoJ’s ETF holdings is something the BoJ must take time to deliberate.

The BoJ abandoned YCC so must allow markets to determine yield levels, though we also need to be vigilant to any sharp rise in market volatility.

Market reaction

As of writing, USD/JPY is trading 0.17% lower on the day at 151.71.