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‘No margin for error’: next Bank of Japan chief faces daunting challenge

Financial Times LogoFinancial Times1w ago

‘No margin for error’: next Bank of Japan chief faces daunting challenge - Financial Times

Quick Summary:

While Kuroda insisted the move would improve the functioning of bond markets and was not monetary tightening, investors interpreted it as a starting gun for the policy normalisation.

Analysts said the selection of Yamaguchi, also a BoJ insider, would signal to markets a definitive break from the decade of aggressive monetary easing and stimulus pursued under the “Abenomics” policy of late former prime minister Shinzo Abe.

Kuroda last month opened what Kataoka called a “Pandora’s box” when the governor stunned investors by announcing the BoJ would allow 10-year government bond yields to fluctuate by 0.5 percentage points above or below its target of zero, replacing the previous band of 0.25 points.


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Article Details

Author / Journalist: Kana Inagaki

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-26 @ 00:01:17 (1 weeks ago)

News Timezone: GMT -5:00

Ranking: #40 (out of 9377 stories this day)

News Source URL: ft.com

Language: English

Article Length: 1134 words

Reading Time: 7 minutes read

Sentences: 35 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 4797694

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 7 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 11 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

Publisher Details

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