In Surprise Move Bank of Japan Allows Bond Yields to Rise

In Surprise Move Bank of Japan Allows Bond Yields to Rise
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While most central banks around the world have tightened monetary policy in an attempt to bring price inflation under control, Japan has done the exact opposite. But in a surprise move, the Bank of Japan widened its target range for 10-year Japanese bond yields, effectively raising the interest rate. The move strengthened the yen, put more pressure on a weakening dollar, and rattled the global bond market. Under the policy announced Tuesday, the BoJ said it would allow the yield on 10-year Japanese government bonds to move up to 50 basis points on either side of its 2% target. The...
Source: https://www.newswars.com/in-surprise-move-bank-of-japan-allows-bond-yields-to-rise/