TOKYO (Reuters) – The Bank of Japan will discuss revising its forward guidance on its future policy path and conduct an examination of its past monetary easing steps, the Nikkei newspaper reported on Friday.
The central bank is likely to forgo modifying its yield curve control (YCC) policy at the two-day policy meeting concluding on Friday, the newspaper said without citing sources.
In the examination, the BOJ will seek to clarify the effectiveness and side effects of its monetary easing steps, and make use of the findings in future policy conduct, the Nikkei said.
At Friday’s policy meeting, the nine-member board will discuss the length and method of the examination, which could last for about a year and analyse several monetary easing steps, the paper said.
The BOJ will also consider modifying its forward guidance that pledges to take additional monetary easing steps as needed with an eye on the impact of the COVID-19 pandemic, it said.
(Reporting by Leika Kihara; Editing by Christopher Cushing and Jacqueline Wong)
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