Economics
Kuroda Shoots Down Wider 10-Year Range, Sends Yields Tumbling
- Widening band around 10-year yield not needed nor appropriate
- Early bombshell ahead of policy review pushes yields lower
Haruhiko Kuroda
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Bank of Japan Governor Haruhiko Kuroda appeared to play his surprise card early as he shot down the idea of widening the trading range for benchmark yields ahead of a policy review, triggering a market tumble.
Kuroda dropped a bombshell in response to a question in parliament about whether the central bank was planning to allow more movement around the 10-year yield target of zero.