Bank of Japan Gov. Haruhiko Kuroda faces a growing challenge to convince investors that a policy pivot isn’t on the horizon following a wave of hawkish turns by global central bankers.
Kuroda continues to insist that the BOJ’s yield control framework is firmly bolted down, without any tinkering under consideration given continued weakness in Japanese price growth.
Still, the central bank passed on an opportunity to reinforce that message on Wednesday, by sticking to its quarterly buying plan for bonds rather than ramping up purchases to put a lid on yields that set a fresh six-year high earlier in the day.