Yasunari Ueno Quotes (3 Quotes)

The newspaper report this morning that the Bank of Japan is considering steps to limit a rise in interest rates lent some support to the debt market, although some appeared to unload 10-year debt for hedging purposes before the auction tomorrow. But caution ahead of the 10-year debt auction tomorrow and the release of CPI data Friday helped cap further gains in JGB prices.

Some investors bought back Japanese government bonds in a knee-jerk reaction to the comments from Fukui.

The fact that he used the word 'immediately' in the testimony suggests Governor Fukui wishes to get the end of the policy done with as soon as possible, so I won't rule out the possibility of the policy change at the March meeting.