BOJ Positions for Post-Kuroda Era With Policy for Long Haul
- Shift away from fixed monetary-base expansion is regime change
- Kuroda managed pivot without surge in market volatility
BOJ Positions for Post-Kuroda Era
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Japan’s central bank has effectively positioned itself for an era of monetary stimulus that extends beyond the radical tenure of Governor Haruhiko Kuroda.
The Bank of Japan board on Wednesday ditched what had been lodestones for Kuroda since he took the helm in 2013 -- a two-year time frame for achieving 2 percent inflation, and a money-expansion strategy at the core of stimulus policy.