BOJ Watchers Look to European Road Map After Move From Subzero
- ECB raised rates quickly after returning to positive territory
- Australia saw bond yield shoot higher as it abandoned YCC
Now that Bank of Japan Governor Kazuo Ueda has scrapped negative interest rates and the yield curve control program, the experience of Europe may offer investors clues on where things are heading.
The European Central Bank and some continental peers have also moved out of subzero territory in the last couple of years after adopting negative rates in their battles against falling prices in the 2010s.