Japan reinforces yield curve control
Yen falls after MPC commits to daily purchases of Japanese government bonds at 0.25% yield
The Japanese central bank’s monetary policy committee increased its commitment to yield curve control today (April 27).
The Bank of Japan’s nine-member MPC voted by eight to one to approve the new yield curve control policy, with Goushi Kataoka the sole dissenter. The MPC, under governor Haruhiko Kuroda, also voted unanimously to set new guidelines for asset purchases.
The BoJ committed to buy enough of Japan’s sovereign debt to ensure that yields on 10-year Japanese government bonds “remain
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