Comment: Japan sees return to normal

Japan's monetary policymakers yesterday delivered another instalment of what is becoming an increasingly confident message: after seven years of deflation, they expect prices to start rising again early next year.

COMMENT BY CENTRALBANKNET

Although the normalisation of monetary policy would represent a major achievement for the central bank, rising yields may have unwelcome consequences for balance sheets in the private and public sectors.

The Bank of Japan used its bi-annual Economic Outlook to

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