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1.Market Observations, 8.Was Sticky

22 Sept 2016 (AFR) – Why central banks are changing tack – Haruhiko Kuroda tries psychology rather than boosting brute monetary force

(22 September 2016, AFR, p26, by Karen Maley)

‘First Draghi. Now Kuroda. Central bankers’ retreat from aggressive monetary stimulus is now clearly under way. Less than fortnight after Mario Draghi, European Central Bank boss, dismayed investors by keeping monetary policy on hold, the Bank of Japan chief Haruhiko Kuroda decided not to plunge any deeper into the realm of monetary experimentation. Instead, at the culmination of a two-day meeting on Wednesday, the BoJ announced that it would keep its key deposit rate unchanged at minus 0.1 per cent, and keep buying at about ¥80 trillion ($1.03 trillion) of Japanese government bonds each year.’

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