Bank of Japan defies expectations of yield curve change
Governor says it will take time for last month’s yield curve tweak to play out
The Bank of Japan kept its yield curve control (YCC) policy unchanged today (January 18), defying market expectations of further steps to phase out its massive stimulus programme amid rising inflation.
In a unanimous decision after its two-day policy meeting, the BoJ board decided to maintain its target for short-term interest rates at -0.1%, while keeping its target for 10-year government bond yields at around 0% through bond-buying.
The central bank also maintained its commitment to allow
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