- The European Central Bank is emulating its Asia-Pacific peers by controlling government borrowing costs.
- It’s different to the so-called yield curve control deployed by the Bank of Japan and Reserve Bank of Australia.
- It has kept its bond-buying programs legal by imposing limits on what it can buy and for how long, but yield curve control is implicitly limitless.
ECB Is Capping Bond Yields But Don’t Call It Yield Curve Control
