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TOKYO (Reuters) – Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said on Friday that he sees no need to adjust its monetary policy further and that he is seen as the next The best contender for central bankers is output control policy.
Speaking in parliament, Amamiya said he noted the merits of yield curve control (YCC), such as the Bank of Japan’s defense of its set a 0.5% cap and massive bond purchases distort the yield curve – 1-year bond yield.
“YCC is a remarkable policy, so we have to carefully balance the benefits and costs,” Amamiya said.
“At this point, I don’t see the need for further steps to increase the flexibility of the YCC,” he added.