BOJ Shifts Policy Framework to Targeting Japan’s Yield Curve

  • Board keeps benchmark interest rate unchanged at minus 0.1%
  • Monetary base may fluctuate as BOJ seeks yield-curve control

BOJ to Introduce QQE With Yield Curve Control

The Bank of Japan shifted the focus of its monetary stimulus Wednesday from expanding the money supply to controlling interest rates, which some economists deemed as further evidence that BOJ policy had reached the limits of its effectiveness.

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