It's almost BoJ comprehensive assessment time with Kuroda's massive JGB purchases and NIRP policy standing naked beneath the spotlights awaiting judgement from their own creators.
Part of that judgment involves the pain that a NIRP and QQE induced flattening of the yield curve has wrought on financials. Thus, as we've talked about already, part of the recommended remedy might involve some sort of Japanese Operation Twist to steepen said yield curve and help out said financials.
Of course, the range of things the BoJ can actually do is large and the subject of predicable disagreement. So before we get to the yield curve question, here's some summary for those who want it. Those who don't can skip down to below the breaks.Continue reading: Inquiring minds want to know: Can the BoJ control the yield curve?