The Bank of Japan pivoted away QE policy in September 2016 towards a policy of yield curve control with the aim of keeping a 10-base point cap.  This is unique in that no other Central Bank is pursuing this strategy.  The Capstone team will analyze why the BOJ has decided to pursue a yield curve control policy over QE and examine the ways in which this has been implemented and the reaction of the markets.  Students would potentially look at the implications for the US market.