BoJ members split ranks on monetary easing
Not all members agree on how low 10-year yields should be
Bank of Japan (BoJ) policy-makers disagreed over the degree of monetary easing at their latest meeting, with some members arguing that long-term yields “should be allowed to temporarily turn negative”, while others favoured more flexible purchases.
At the meeting, the central bank kept policy on hold, maintaining a negative interest rate of –0.1% and increasing Japanese government bond (JGB) holdings at an annual pace of about ¥80 trillion ($731 billion).
“On the recent decline in long-term
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