Wednesday, 11 January 2017

BOJ heavyweight says central banks have considerable control over yields

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Central banks' battle with the global financial crisis showed they could exert a "considerable" impact on long-term interest rates even under today's highly developed financial markets, a senior Bank of Japan official said on Wednesday. But more research is needed on how to pin down the desirable shape of the yield curve and to what extent central banks can control long-term interest rates, said Masayoshi Amamiya, the BOJ's executive director overseeing monetary policy.

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