Ueda speech: Still need some time to consider what to do with BoJ’s ETF holdings
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Speaking before the Japanese parliament on Tuesday, Bank of Japan (BoJ) Governor Kazuo Ueda said, the central bank “still need some time to consider what to do with BoJ’s ETF holdings.”
Additional quotes
Must think about valuation and market rout risks when offloading BoJ’s ETF holdings.
BoJ’s massive JGB holdings have stock effect that would slightly lower long-term yields.
BoJ’s JGB holdings would continue to have stock effect since reduction pace is extremely slow.
Japan's output gap stands around zero, no big difference BoJ’s and cabinet office's estimates.
Market reaction
USD/JPY keeps its pullback intact toward 150.50 following these comments, trading modestly flat on the day.
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