Market won't play ball with BOJ's new rate regime

Market won't play ball with BOJ's new rate regime

Bond buyers are already testing the credibility of the Bank of Japan's new monetary policy framework, pushing 10-year yields below its zero percent target and giving the bank few palatable options to bring them back on track.
After failing in its goal of achieving sustained inflation, the BOJ last week shifted its primary policy tool away from expanding the money supply and towards controlling the 'yield curve' - making sure long-term rates remain sufficiently above currently negative short-term rates so banks can make a profit from lending into Japan's stagnant economy.
As part of that... read more

30 September 2016 in Business, Views: 37
Source: Reuters

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