BOJ's Uchida: Decision to make YCC flexible not a move towards ending ultra loose policy

<ul><li>If economy, prices remain roughly unchanged, don't expect rates to rise sharply</li><li>BOJ will curb excessive rise in long-term rates</li><li>Does not want to comment on day-to-day FX moves</li><li>But it is very important for exchange rate to move stably, reflecting fundamentals</li></ul><p>This builds from his earlier remarks <a href="https://www.forexlive.com/centralbank/boj-deputy-governor-uchida-japan-needs-to-maintain-easy-policy-20230802/" target="_blank" rel="follow">here</a>. For now, there is still no indication yet that they are stepping in too strongly in the JGB market as 10-year yields hit 0.626%.</p>

This article was written by Justin Low at www.forexlive.com.