Jerry Seinfeld and Haruhiko Kuroda Have One Thing in Common
Japan’s central bank is about to wrap up a three-month policy review to much fanfare. By ruling out so many possibilities for change, it could well end up being a show about nothing.
Is that it?
Photographer: NBC/NBCUniversalJapan’s central bank has been busy putting the finishing touches on a three-month monetary policy review. Not even its top two officials appear to agree on what will come out of it. Bond investors aren’t pleased.
Last week, Governor Haruhiko Kuroda scotched speculation that the Bank of Japan would permit the yield on 10-year government bonds to trade in a wider band around the target of zero. He appears reluctant to sign off on any shift, however subtle, that might be interpreted as being comfortable with the concept of tighter monetary policy. Days later, Deputy Governor Masayoshi Amamiya offered a different take. The bank might still seek ways to allow additional fluctuations when the results of the review are unveiled March 19.