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Bank of Japan Re-embraces Yield Curve Control | Roundup
Forward Guidance
The Importance of Credibility in Central Banking
Joseph Stork: I was reading an op-ed from the Wall Street Journal editorial page about yield curve control. Do you think that the credibility of the Bank of Japan is under threat or is it the whole notion of credibility sort of not important because one party has to trust another? And if the other party, i.e. Bank of Japan, has all the control and they're buying the entire curve, what does it care with the market? Thanks.
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