I had the headlines on this much earlier today
Ex-BOJ board member Nakahara - yield control, neg rate are mistakes
Bloomberg have more now on comments from Nobuyuki Nakahara, "an intellectual father of the Bank of Japan's first run at quantitative easing in 2001"
- BOJ's switch to yield-curve targeting compounds its earlier error of adopting negative interest rates
- A disappointing move away from monetary-base expansion
- The decision to conduct a comprehensive review of monetary policy had invited defeat on reflationist efforts and would raise questions about Abenomics as a whole.
Nakahara: "You've blown your chance of a 2nd term!"
Kuroda: "You say that like its a bad thing"
