BOJ's Muto cites side effects of JGB buying

In the text of a speech published on Friday 25 July Bank of Japan deputy governor Toshiro Muto said "Buying of 1.2 trillion yen a month represents a significantly high pace". He suggested the policy had had some negative effects adding "But as a result...it has reduced opportunities for short-term operations and has in some cases caused unforeseen effects, such as firming in short-term interest rates."

Source: Reuters

Deputy Bank of Japan Governor Toshiro Muto described the central bank's gover

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