Second, the quantitative easing policy created and maintained a very accommodative environment that supported the recovery of Japanese firms, through the commitment to continue zero interest rates. In particular, bank lending rates and interest rates on corporate bonds continued to decline as a result of the flattening of the yield curve, as well as the gradual decline in credit risk premiums.
In my view, these type of disclosures are not in the spirit of the Code in helping move the market to a better place. The challenges around ensuring sufficient transparency on trading capacities and behaviours are particularly acute on anonymous trading platforms.