EX-BOJ’s Mizuno: BOJ playing 'kabuki' by saying it can control yield curve - RTRS

Former BOJ board member Atsushi Mizuno was on the wires earlier on the day, via Reuters, sharing his take on the central bank’s currency policy stance.

Key Quotes:

"Yield curve control sounds as if the BOJ had some kind of world-beating market-operation technique"

"In reality, it has only committed itself to two things, interest rates on excess reserves and the 10-year yield"

“The BOJ's new approach follows a comprehensive review of the quantitative and qualitative" easing policy that in three-and-a-half years has failed to generate the 2 percent inflation”

"The BOJ could have quietly left the stage, but instead they took such a grandiose posture"

"It was almost like a kabuki performance"

“BOJ could let 10-year yield fall below -0.1%”

“BOJ operation likely to be flexible to maintain some volatility”