The Bank of Japan is seeking to control the yield curve in the latest iteration of its unprecedented stimulus efforts. Governor Haruhiko Kuroda started on his quest toward a 2 percent inflation target by announcing massive asset purchases in 2013. He then expanded those in 2014, before introducing negative interest rates in January of this year.
The BOJ said at its September meeting it will move away from a rigid target for expanding the money supply, previously set at 80 trillion yen ($780 billion) annually. It also kept the overnight rate for the policy balance of bank reserves at minus 0.1 percent and adopted a target of around zero perc...
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