Mar 19, 2024CORE

Bank of Japan Ends Negative Rates and Yield Curve Control

The Bank of Japan judged that its negative interest rate policy and Yield Curve Control had fulfilled their roles, ending key elements of its unconventional easing framework and shifting toward short-term interest rates as its primary policy tool.

Sources

Changes in the Monetary Policy Framework
Bank of JapanENMar 19, 2024Official statement

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OngoingEconomy · 2022

Japanese Yen Weakness and Monetary Policy Normalization

Tracks Japan's response to persistent yen weakness from its first yen-buying intervention in 24 years in 2022 through the Bank of Japan's exit from negative rates, successive rate hikes, large-scale interventions in 2024 and 2026, and the 2026 joint U.S.-Japan intervention and prospect of further tightening.

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