BOJ's Muto on monetary policy

In a speech given on 4 April Toshiro Muto of the Bank of Japan said hinting at the actual timing of the policy change is generally inadvisable.

"If such a hint were made, market participants would carry out transactions based not on their own views of the economy and prices but in response to the Bank's hint, and this would result in a breakdown of the two-way exchange of information. Furthermore, at many central banks, including the Bank of Japan, policy decisions are made after thorough

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