Bank of Japan Keeps Monetary Policy Steady, No Change to JGB Yield Band as Expected

The Bank of Japan as widely expected kept unchanged its -0.1% target for short-term interest rates, and 0% for the 10-year government bond yield unanimously. There was much anticipation being Governor Ueda’s second decision at the BoJ. BoJ inaction drives relief through global carry trades. The yen weakened, move higher for yen crosses, JGB yields rallied in bull flattener fashion and the Nikkei gained ground. Any doubt there about BOJ policy change has been removed until the next meeting, scheduled … Continue reading Bank of Japan Keeps Monetary Policy Steady, No Change to JGB Yield Band as Expected