Key Points
First, a steady buildup of reports signaling change appearedin domestic media before the meeting began though, notably, after the bank is supposed to have entered its blackout period in which it pledges not to disclose information outside the bank, except to answer questions in parliament..
If the results of the Monetary Policy Meetings are reported immediately before they are announced, it could have a disruptive effect on financial markets and lead to other extremely undesirable situations," said the Bank of Japan itself, in a 2016 statementinvestigating how the introduction of negative rates was leaked..
The Feds controls over its sensitive, market-moving information are just too weak," Dennis Kelleher, president and chief executive officer of Better Markets Inc., a nonprofit Wall Street watchdog, told Bloomberg News at the time..
I urge the board to implement substantive penalties for Federal Reserve officials that engage in prohibited market trading activity," Sherrod Brown, chair of the Senate Banking Committee,wrote in a letter to Fed chief Jerome Powell last month..
And if Ueda wants to give markets a heads-up, he has ample opportunity: No other major central bank governor spends as much time talking in parliament..
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