BOJ: Divided we stand over matters of easing

As per the Wall Street Journal (WSJ) report, the Bank of Japan (BOJ) policymakers are split on what should be the future course of the monetary policy.

There seems to be a three-way split – one in favor of deepening negative rates, another supporting QQE expansion and the third group, which is questioning the efficacy of negative rates and QQE program.

Some policymakers suggest changing bond purchase target of annual JPY 80 trillion to range of perhaps JPY 70 to 90 trillion, while a few are worried about the bond supply.

Amid all the noise, there is increasing worry in the markets that Bank of Japan and other major central banks risk being a classic case of 'divided we stand and united we fall'.