Yen weakens further as BoJ stands by loose policy
Central bank stresses commitment to defending yield curve control despite exchange rate worries
The yen fell even lower against the US dollar today (June 17), after the Bank of Japan reiterated it had no plans to start unwinding its ultra-loose monetary policy stance.
The BoJ kept the policy rate at -0.1% and its target for 10-year Japanese government bond (JGB) yields at “around 0%”. It promised daily market operations to defend the yield curve target.
Earlier this week, yields breached the 0.25% upper limit of the central bank’s target range, prompting the BoJ to intervene with
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