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BOJ Set to Stick With Easing as Markets See Clock Ticking on YCC
The Bank of Japan is widely expected to stick with its negative interest rate this week, leaving the focus on whether it will risk complicating its stimulus message by tweaking its cap on benchmark yields. Since taking the helm in April, Governor Kazuo Ueda has repeatedly pushed back against the idea that a major pivot on policy is looming by emphasizing his persistent doubts about the sustainability of recent price growth in Japan. That’s kept the BOJ as an outlier on monetary policy while major peers aggressively hiked rates to tackle hot prices. That divergence looks set to continue with both the Federal Reserve ... (full story)