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Japan’s Latest Bold—and Desperate—Experiment in Monetary Policy
After years of trying to spark economic growth, the BOJ in recent weeks has been moving to lift yields on government bonds.
11 Oct 2019, 06:36 AM IST
(Bloomberg Businessweek) -- Japan, a nation often bound by tradition, has been wildly unconventional when it comes to monetary policy. In the first major economy in the postwar era to grapple with deflation and a pronounced downshift in long-run growth, policymakers have had little choice but to get creative. The Bank of Japan was the first to take interest rates to zero and, when that didn’t work, pioneered quantitative easing in 20...
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