<figure><img src="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/inNci0WfsQWA/v5/-1x-1.png"><figcaption><div><p>Source: Bloomberg, 10:45</p></div><div></div></figcaption></figure><p>Richard Werner, the economist who first advanced the concept of quantitative easing in Japan, says the Japanese central bank will have to relent from its curve control policy, as yields rise. The University of Oxford professor of banking and finance tells Bloomberg&apos;s Caroline Hepker and Stephen Carroll that the Bank of Japan made a policy mistake in ramping up bank credit creation in March 2020, when it wasn&apos;t needed.</p>

Richard Werner, the economist who first advanced the concept of quantitative easing in Japan, says the Japanese central bank will have to relent from its current policy of manipulating the bond market, as yields rise. The University of Oxford professor of banking and finance tells Bloomberg's Caroline Hepker and Stephen Carroll that the Bank of Japan made a policy mistake in ramping up bank credit creation in March 2020, when it wasn't needed.

Inventor of QE On Bank of Japan's 'Policy Mistake' (Audio)

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