Central bank ‘put’ can harm market function – Kuroda
BoJ chief says easing measures are working, but central banks must be wary of side-effects
The Bank of Japan has been almost too successful at convincing markets it is able to control long-term interest rates, which for a time impacted market function, governor Haruhiko Kuroda said today (July 22).
Delivering the annual Michel Camdessus lecture in Washington, DC, Kuroda shed some light on the BoJ’s experience with extraordinary monetary easing measures over the past decade. He said when the central bank first committed to yield curve control – a promise to pin long-term rates at
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