I don’t think about selling long-term JGBs as a tool to adjust interest rates

Bank of Japan (BoJ) Governor Kazuo Ueda spoke in the Japanese parliament on Friday, noting that he is “not considering selling long-term JGBs as a tool to adjust interest rates.”

Additional quotes

The reduction in JGB purchases would represent only 7-8% of the balance sheet, not a large reduction.

If the economy moves in line with our projection, there will be a stage where we can adjust interest rates a bit more.

Communicating with overseas counterparts through various means.

Do you think Lieutenant Governor Uchida’s remarks in August were appropriate?

The basic position is to monitor how market movements affect the economy when analyzing future monetary policy.

No comment on ruling party lawmakers’ remarks on monetary policy ahead of the July meeting.

The decision in July followed our thorough analysis of the economy, price situations.