Well, it certainly controls the front end of the curve. The term YCC as far as I understand it typically is referring to the long end. In other words, BOJ setting a yield target on 10yr JGBs is outright yield control. QE/QT/RPR could maybe be called "YCI" - Yield Curve Influence. They aren't setting outright targets for the long end that…
Well, it certainly controls the front end of the curve. The term YCC as far as I understand it typically is referring to the long end. In other words, BOJ setting a yield target on 10yr JGBs is outright yield control. QE/QT/RPR could maybe be called "YCI" - Yield Curve Influence. They aren't setting outright targets for the long end that they defend, but they are using tools to push long yields one way or another
Well, it certainly controls the front end of the curve. The term YCC as far as I understand it typically is referring to the long end. In other words, BOJ setting a yield target on 10yr JGBs is outright yield control. QE/QT/RPR could maybe be called "YCI" - Yield Curve Influence. They aren't setting outright targets for the long end that they defend, but they are using tools to push long yields one way or another