Bloomberg Daybreak: Asia Edition
BOJ Raises Rates, Scraps Yield Curve Control
Mar 19, 2024
Discussion on Bank of Japan's decision to raise rates and end yield curve control, impact on equity markets, yen movements and Nikkei increase indicating global growth, market reactions to BOJ's move, earnings impact and Fed meeting discussion, Asian market investment strategies amidst inflation and negative real rates
24:25
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Quick takeaways
- BOJ shifts policy by setting rates between 0 to 10 basis points, moves away from yield curve control program.
- Strength in Japanese equity market, particularly small and mid-cap companies, reflects optimism and global growth potential.
Deep dives
Bank of Japan Announces Major Policy Changes
The Bank of Japan has announced significant policy changes, setting the policy rate in a range between 0 to 10 basis points and scrapping the yield curve control program. This decision was well-received by the markets, as it signals a move towards normalization. Additionally, the BOJ will continue buying Japanese government bonds (JGBs) with broadly the same amount as before, maintaining a level of transparency in the market.
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