URGENT: No need to further widen 10-year gov’t yield trading band: BOJ chief

Bank of Japan Governor Haruhiko Kuroda said Wednesday he sees no need to further widen the trading band for 10-year Japanese government bond yields, after the central bank maintained its ultralow rate policy earlier in the day.

Speaking at a press conference following a two-day policy-setting meeting, Kuroda expressed hope that market distortions in the bond market will be fixed. The BOJ’s yield curve control program to keep short- and long-term interest rates at low levels can be sustained, the governor said.

He reiterated that the central bank will keep monetary easing to promote wage growth...