The BOJ has introduced a heap of new policy initiatives
The Wall Street Journal recap:
- An unexpected step ... launching a 10-year interest rate target
- Following an internal review of existing measures that failed to achieve 2% inflation in a promised two-year time frame
- Bank to start targeting 10-year interest rates ... committing to keep them around zero
- Will continue QQE until inflation "exceeds" 2% (effectively strengthening its commitment to continue aggressive easing)
More at the piece here, which may be gated: BOJ Changes Policy Framework After Review of Measures
