Bank of Japan’s YCC Drama Should Be More Sequestered
Was the old-fashioned leak even worth it? If Japan’s central bank can’t reach a verdict, clumsily ratcheting up excitement will cost it credibility.
John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”
Maybe send the BOJ back until they reach a verdict? Above: Henry Fonda and Lee J. Cobb in “12 Angry Men.”
Photographer: MGM Studios/Moviepix/Getty
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It wasn’t quite like 12 Angry Men; to be more accurate, the latest meeting of the nine-member Bank of Japan Policy Board must have been more Eight Angry Men and One Woman. But such was the anticipation that had been allowed to build up that even their decision to do effectively nothing still turned out to be a big event.
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Bank of Japan’s YCC Drama Should Be More Sequestered