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BOJ's Miyao: Vital to keep bond yields on stable path May 28th 2013, 04:51 TOKYO | Tue May 28, 2013 12:51am EDT TOKYO May 28 (Reuters) - Bank of Japan board member Ryuzo Miyao said on Tuesday it was vital to keep long- and short-term interest rates, which are affected by various factors such as central bank policy actions and changes in external conditions, on a stable path. "Even when there is upward pressure on long-term interest rates due to expectations for economic recovery, monetary policy will continue to put downward pressure on interest rates and therefore strongly support economic recovery," Miyao said at a news conference in Tokyo. The BOJ unleashed the world's most intense burst of stimulus last month, promising to inject $1.4 trillion into the economy in less than two years to meet its pledge of achieving 2 percent inflation in roughly two years. | |
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