June 5, 2018 / 6:20 AM / 2 months ago

BOJ deputy gov Wakatabe: won't immediately sell JGBs on exit

TOKYO (Reuters) - Bank of Japan Deputy Governor Masazumi Wakatabe said on Tuesday he did not think the central bank would immediately start selling government debt once it decides to exit from quantitative easing.

FILE PHOTO: Bank of Japan (BOJ) new Deputy Governors Masazumi Wakatabe (R) and Masayoshi Amamiya attend their inaugural news conference at the BOJ headquarters in Tokyo, Japan, March 20, 2018. REUTERS/Toru Hanai

Wakatabe, speaking in the upper house of parliament, said the BOJ would first conduct operations to mop up excess liquidity.

Wakatabe said consumer prices were still distant from the BOJ’s 2 percent price target. He also reiterated his opposition to the BOJ’s buying U.S. Treasuries for monetary policy.

Reporting by Stanley White; Editing by Chang-Ran Kim

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