BOJ Lays Groundwork to End Yield Curve Control and Negative Interest Rates

The Bank of Japan plans to scrap its bond yield target and negative interest rate policies and move toward normalizing monetary policy as inflation expectations rise and costs mount.
The central bank's policies have ended deflation but failed to achieve its 2% inflation target in a sustainable way.
Yield curve control suppressed long-term interest rates but caused dysfunction in financial markets and reduced bank profits.
BOJ Governor Ueda will phase out the policies when consumer prices show signs of consistently rising toward the target.
The BOJ then aims to transition from massive stimulus to more standard policy setting.