BOJ to loosen grip on yields, lay groundwork for ‘stealth’ tapering

The Bank of Japan will unveil on Friday a raft of measures to loosen control over asset price moves and make its ultra-easy policy more sustainable, as the economic damage wrought by the coronavirus pandemic prolongs its battle to fire up inflation. The outcome of the policy review, to be announced after a two-day meeting ending on Friday, will be more a fine-tuning of the BOJ’s tools rather than on overhaul of its strategy that has failed to accelerate consumer price growth to its 2% target. By allowing bond yields to fluctuate more around its target, the BOJ is hoping to avoid the hassle of having to contain any … (full story)

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