Kuroda Shocks by Tweaking BOJ’s Yield Cap, Sparking Yen Jump
Bank of Japan Governor Haruhiko Kuroda shocked markets by adjusting the central bank’s yield curve control program and sparking a sharp jump in the yen just months before he is due to step down. The BOJ will now allow Japan’s 10-year bond yields to rise to around 0.5%, up from the previous upper limit of 0.25% on its movement range, according to its policy statement Tuesday. The central bank kept its target for the yield unchanged at around zero percent. It also left its short-term interest rate at -0.1%. All 47 economists surveyed by Bloomberg expected no policy change, though most of them had said the bank ... (full story)
- Comment #1
- Dec 19, 2022 11:10pm Dec 19, 2022 11:10pm
- Joined Jul 2016 | Status: Member | 85 Comments
- Comment #2
- Dec 19, 2022 11:40pm Dec 19, 2022 11:40pm
- | IP XXX.XXX.219.218
- Comment #3
- Dec 19, 2022 11:54pm Dec 19, 2022 11:54pm
- Joined Jun 2011 | Status: Member | 2904 Comments
- Comment #4
- Dec 20, 2022 12:24am Dec 20, 2022 12:24am
- | IP XXX.XXX.62.18
- Older Stories
In accordance with the guidelines for market operations and asset purchases decided at the Monetary Policy Meeting today, the Bank of Japan has decided to implement following ...
At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided to modify the conduct of the yield curve control in order to improve market functioning and encourage a smoother formation of the entire yield curve, while maintaining accommodative financial conditions. Since early spring this year, volatility in overseas financial and capital markets has increased and this has significantly affected these markets in Japan. The functioning of bond markets has deteriorated, particularly in terms of relative relationships between spot and futures markets. Yields on Japanese government bonds (JGBs) are reference rates for corporate bond yields, bank lending rates and other funding rates. tweet at 10:01pm: BoJ Keeps Monetary Policy Steady -Maintains Short-Term Interest Rate Target At -0.1% -Maintains 10-Year JGB Yield Target Around 0% tweet at 10:08pm: BOJ EXPANDS RANGE FOR 10-YEAR JGB YIELD FLUCTUATIONS TO PLUS AND MINUS 0.5 PCT POINTS FROM CURRENT PLUS AND MINUS 0.25 POINTS #BOJ #Japanecon #interestrates tweet at 10:01pm: BOJ MADE DECISION ON YCC BY UNANIMOUS VOTE - https://t.co/wXVagA44VK tweet at 10:09pm: BOJ: BOJ WILL SIGNIFICANTLY INCREASE JGB PURCHASING AMOUNT.
The Japanese government is considering raising its general-account spending above 114 trillion yen in fiscal 2023, which starts next April, a record high for the 11th straight ...
- Newer Stories
tweet at 10:53pm: BOJ ANNOUNCES UNSCHEDULED BOND BUYING OPERATION tweet at 10:52pm: BoJ Offers To Buy JPY600Bln Worth Of JGBs: -JPY100Bln 1-3 Year -JPY100Bln 3-5 Year -JPY300Bln 5-10 Year -JPY100Bln 10-25 YearBank of Japan announces an unscheduled JGB buying operation. JGB have plunged, Futures halted: Osaka Exchange halts JGB futures trade - limit down. There is no halt in the physical JGB market though where the slamming has continued. The Bank of Japan has stepped in to stem the losses, or at least slow them. • Offers to buy up to JPY 100bn in 1-3yr JGBs. • JPY 100bn in 3-5yr JGBs. • JPY 300bn in 5-10yr JGBs. • JPY 100bn in 10-25yr JGBs.
Economic activity in China continues to track the ups and downs of the pandemic—outbreaks and growth slowdowns have been followed by uneven recoveries. Real GDP growth is ...
The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2023 updated asset-size thresholds used to define "small bank" and "intermediate small ...