-
BOJ's next challenge: unwinding Kuroda's legacy stimulus
For Bank of Japan Governor Haruhiko Kuroda, Sunday’s general election has brought into focus the challenge of unwinding a massive stimulus program and yield curve control policy, while not hurting a budding but still fragile economy, the world’s third-largest. With inflation far below a 2 percent target, the BOJ rules out any near-term exit from Kuroda’s legacy ultra-easy policy. But there’s growing alarm within the central bank about how long it can keep the money spigot open, given the rising costs and diminishing returns, people familiar with BOJ thinking say. Most of the BOJ’s nine board members and ... (full story)