BoJ targets inflation overshoot with revamped policy approach

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The Bank of Japan

The Bank of Japan is reshaping its monetary operations in a bid to push inflation above target, as it unveiled the conclusions of its long-awaited "comprehensive assessment" today (September 21).

Following its monetary policy meeting, the BoJ introduced what it calls "yield curve control". Rather than aiming for a specific increase in the monetary base it will instead aim to keep 10-year Japanese government bond (JGB) yields at "around zero".

Analysts were quick to note this could permit a

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