Jens Nordvig: Days of Japan’s Zero Interest Rate Policy (ZIRP) Are Numbered
Forward Guidance
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Japan's Shift in Inflation Dynamics and Yield Curve Control
The chapter delves into Japan's evolving inflation dynamics, analyzing the impact of wage growth on service prices and the potential for domestic inflation pressures. It also discusses the history, challenges, and gradual phasing out of yield curve control in Japan, highlighting the market's reaction and the potential rise of Japanese tenure yields amidst higher nominal growth and inflation conditions.
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