Bloomberg conveyed the report, initially in Japan’s JiJi media outlet:
- The Financial institution of Japan is contemplating scrapping its yield curve management program and as an alternative indicating upfront the quantity of presidency bonds it plans to buy, Jiji Press reported, with out saying the place it acquired the data.
- It’s going to cease its program to information benchmark 10-year authorities bond yields to round 0%, as a part of its efforts to normalize financial coverage, in line with Jiji.
- new framework would goal the amount of purchases, reasonably than the yield, in line with Jiji.
- The financial institution will resolve on that and ending destructive rates of interest as quickly as the subsequent coverage assembly concluding on March 19, the report mentioned.
Bloomberg is gated however right here is the link if you happen to can entry it.
h/t and due to JC within the feedback here
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BOJ meet on March 18 and 19.
All of the modifications to the YCC program the BoJ have gaffa-taped on in current months have all been geared toward, says the Financial institution, maintaining its extremely free financial coverage sustainabe. USD/JPY misplaced floor after every announcement (yen appreciated) however quickly rebounded. I think the identical once more.
