Bank of Japan finally gets some inflation, and headaches too

Everyone sure to get hurt if bond yields keep rising

William Pesek

February 16, 2022 05:00 JST

20220215 Haruhiko Kuroda.jpg

Bank of Japan Gov. Haruhiko Kuroda attends a press conference on Jan. 18: if Kuroda were to expand a balance sheet, the bond vigilantes will push back. © Kyodo

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

If Bank of Japan Gov. Haruhiko Kuroda thought fighting deflation was hard, wait until he confronts the bond vigilantes.

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