TOKYO :Bank of Japan (BOJ) Governor Kazuo Ueda said on Tuesday the central bank will end its yield curve control policy and then start shrinking its balance sheet, once prospects heighten for inflation to sustainably hit its 2 per cent target.Speaking in parliament, Ueda said Japan's economy was picking up an
TOKYO :Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank will end its yield curve control policy and then start shrinking its balance sheet, once prospects heighten for inflation to sustainably hit its 2 per cent target.
"When we can foresee inflation sustainably and stably meeting our 2 per cent target, we will abandon yield curve control and then move towards shrinking the bank's balance sheet." With inflation exceeding the BOJ's target, markets are rife with speculation that Ueda will soon phase out YCC, which has drawn public criticism for distorting market pricing and crushing bank profits.
It also announced a plan to review its past monetary policy moves, laying the groundwork to gradually phase out his predecessor's massive stimulus programme.
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