Haruhiko Kuroda, governor of the Bank of Japan, speaks during a meeting in Tokyo on Monday. Photo: Bloomberg
Haruhiko Kuroda, governor of the Bank of Japan, speaks during a meeting in Tokyo on Monday. Photo: Bloomberg
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why Japan can’t afford to abandon its ultra-loose monetary policy

  • The Bank of Japan’s decision to raise its bond yield cap has shocked markets, with many seeing the move as the start of policy normalisation
  • In reality, the central bank has good reason to keep policy loose, but it will need to convince markets of that before they trigger a dangerous bond sell-off

Haruhiko Kuroda, governor of the Bank of Japan, speaks during a meeting in Tokyo on Monday. Photo: Bloomberg
Haruhiko Kuroda, governor of the Bank of Japan, speaks during a meeting in Tokyo on Monday. Photo: Bloomberg
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