Why a Steepening Yen Yield Curve Isn't a BOJ Woe
Even after putting the Bank of Japan’s mega-stimulus on a more sustainable footing in recent months, Governor Haruhiko Kuroda has more work to do. Next year could be the "year of the taper." That’s according to BOJ watchers who flag that the continuing guideline of buying an annual 80 trillion yen ($734 billion) of bonds -- amounting to 16 percent of gross domestic product -- will at some point run up against operational limits. As bond traders have long warned, current owners of securities won’t part with their holdings in the amounts the BOJ needs to buy. Japan Macro Advisors Chief Economist Takuji Okubo discusses with Yousef Gamal El-Din on "Bloomberg Daybreak: Europe."