Since September 2016, the Bank of Japan has steadfastly vowed to keep its 10-year government bond yield near zero, even as central banks in the US, EU, and UK started raising rates. Bond traders are getting vocal, saying the BOJ will have to raise rates eventually. Consumer price inflation has been above its target for nine months, and with the central bank owning half of Japan’s sovereign debt, traders complain that the market isn’t functioning properly, according to the bank’s latest survey. But the BOJ stood firm. In the first three weeks of January, the bank spent a record $169 billion buying government bonds to maintain its rate policy.
Denne historien er fra February 13, 2023-utgaven av Bloomberg Businessweek US.
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Denne historien er fra February 13, 2023-utgaven av Bloomberg Businessweek US.
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