Bloomberg Markets and Finance published this video item, entitled “El-Erian Says BOJ Yield Pivot Is ‘Quite Smart'” – below is their description.
Mohamed El-Erian, a Bloomberg Opinion columnist, says the Bank of Japan’s yield pivot is a step toward normalization during an interview with Jonathan Ferro on “Bloomberg The Open.” BOJ Governor Haruhiko Kuroda shocked markets Tuesday by saying he’ll now allow Japan’s 10-year bond yields to rise to around 0.5%, double the previous upper limit of 0.25%. El-Erian’s opinions are his own.
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Japan is an island country in East Asia located in the northwest Pacific Ocean. Part of the Pacific Ring of Fire, Japan comprises an archipelago of 6,852 islands covering 377,975 square kilometers (145,937 sq mi); the country’s five main islands, from north to south, are Hokkaido, Honshu, Shikoku, Kyushu, and Okinawa. Tokyo is Japan’s capital and largest city.
Japan is divided into 47 administrative prefectures and eight traditional regions. The Greater Tokyo Area is the most populous metropolitan area in the world, with more than 37.4 million residents.
Japan is a great power and a member of numerous international organizations, including the United Nations (since 1956), the OECD, and the G7. Japan is a leader in the automotive and electronics industries.