Regarding the Bank of Japan's decision to revise the current large-scale monetary easing and raise the upper limit of the fluctuation range of long-term interest rates to about 0.5%, Economic Revitalization Minister Goto said at a press conference that I understood that it would enhance sustainability.
In this, Minister of State for Economic Revitalization Goto said, ``The basics of yield curve control, i.e., yield curve control, have not changed at all. I know it's not," he said.
Regarding the aim of the revision, he said, "We understand that this is not meant to be an exit from monetary easing, but rather to allow the effects of monetary easing to spread more smoothly and enhance its sustainability. We would like to firmly respond to trends in the real economy," he said, showing the government's understanding of the BOJ's revisions.
In addition, regarding the view among the market that this revision is actually an interest rate hike, he said, "As Governor Kuroda stated at his press conference yesterday, this measure will improve the functioning of the market. This is done with the intention of ensuring that the effects of monetary easing spread more smoothly through corporate finance, etc., and it is clearly denied that it is not an interest rate hike."