BoJ's no move points at focus on controlling yields: Rabobank

In its policy meet on Wednesday, the Bank of Japan (BoJ) kept the interest rate steady, but released various policy guidelines to boost economic growth. With no monetary easing or change in interest rate, the BoJ has indicated that they plan to control the yield curve going ahead, says Michael Every of Rabobank. A positive Japan 10-year yield curve will be good for banks. Every says that the BoJ will try to ensure than bond yields don’t go into negative.However, global markets are unlikely to reflect this today. On the US Federal Reserve meet, scheduled for Wednesday, Every says that the recent data on unemployment has been disappointing and one will have to watch out for Fed’s future commentary.For entire interview, watch accompanying videos.