The End Game Scenario for the Bank of Japan
Market Depth
The Origins of Yield Curve Control Trading Bans
Markets established that 10 basis points was the upside cap that the bank Japan would tolerate. And then did the reciprocal minus 10 basis points as the downside cap in which the bank, bank, and potentially sell JGBs. Markets just assumed that these were the levels and by doing so they made it a reality. But yield curve control is a living breathing flexible and adapt adaptive tool that no other central bank has any experience with other than the Bank of Japan.
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