AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min chapter
Governor Kuroda: The Decade’s Most Consequential Central Banker
Forward Guidance
Yield Curve Control Policy Decisions - December 22 Shock Yield Control Change
Your JGBs were not only yearly higher than tens but they were yielding even higher than the 25 base point yield curve control cap okay so it makes no sense for the tenors beyond 10 10 years such as like 20 or 30 or 40 your GGB. The super long end that end is basically like a vertical line of steepness okay so it's an incredibly steep like tens 20s curve and it's an inverted like eight tens curve if you will. This distortion this was the reason that the BOG had widened the yield curve control bands in December of 2022 to improve easing efficacy.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode