Dec 20 Reuters The Bank of Japan has slightly loosened the shackles on its 10year yield target and said it will review the operation of its yieldcurve control policy, surprising financial markets and sending the yen sharply higher.

Here are some comments from experts

TAKESHI MINAMI, CHIEF ECONOMIST AT NORINCHUKIN RESEARCH INSTITUTE, TOKYO

It came as a surprise, but if the decision was delayed into next year, the BOJ might not be able to make such a move as the economy is set to worsen.

The BOJ will keep on monitoring markets when making further moves as needed. But it is unlikely to shift policy automatically just because Governor Haruhiko Kuroda is replaced with someone else in April.

ATUSHI TAKEDA, CHIEF ECONOMIST, ITOCHU ECONOMIC RESEARCH, TOKYO

Today39;s move reflects the BOJ39;s determination not to alter its yield curve control policy. But the BOJ failed to communicate with markets, as it made no efforts to lay the ground or allow markets to factor in such a move. It came all of sudden so market players must be angry about the decision.

The BOJ must have been forced into action because the bond market functionality is almost dead.

The way the BOJ moved abruptly without communication with markets makes BOJ39;s course of action unpredictable, making it almost impossible to read its mind. Whoever becomes next BOJ Governor must strive to make monetary policy more transparent and predictable.

KHENG SIANG NG, ASIA PACIFIC HEAD OF FIXED INCOME AT STATE STREET…