Mikihiro Matsuoka on Japan Inflation, BoJ Outlook and Debt Problems
Macro Hive Conversations With Bilal Hafeez
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Is There a Government Position on the YCC?
There was some speculation that there was government pressure for them to change YCC. Do they want tighter policy or do they want the 10-year yield to not be constrained? Is there a government position on this? The government position on the YCC in my view is a bit ambiguous. On one hand, they want a condetic micro-policy, but on the otherhand, they want to avoid excessive yen depreciation.
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