David Storey

About David Storey

David Storey is an AMC associate with Asian Development Bank Institute.
Author Archive | David Storey
Economics, Finance sector development, Governance and public sector management

Assessing the BOJ’s yield curve control policy

Assessing the BOJ’s yield curve control policy
The Bank of Japan (BOJ) announced in September last year that it would be switching the focus of its quantitative easing program from monetary base targeting to controlling the shape of the yield curve (Bank of Japan, 2016). A brief comparison of the two frameworks is as follows. The previous monetary easing framework, Quantitative and Qualitative Monetary Easing (QQE) with a Negative Interest Rate, set out three policy dimensions: quantity, quality, and interest rates.