According to Bloomberg
- BOJ officials are said not to want sharp moves in 10-year yields
This comes of course following the July decision where Kuroda stated that the central bank would allow yields to move by “about double” the 0.10% limit. That subsequently prompted a sharp move higher in yields to above 0.14% and that prompted the BOJ to intervene:
Again, this adds to the rhetoric that the BOJ is starting to loosen the reins a little but there’s still much more that needs to be done before the market starts adopting the view that the central bank is starting to turn hawkish.