The Bank of Japan decided Tuesday to modify its massive monetary easing policy, effectively allowing long-term interest rates to rise higher. The BOJ will make its policy to guide 10-year government bond yields to around zero more flexible.
The decision, which was made at the monetary policy board meeting, was aimed to reduce the side effects of the easing policy, as the prolongation of the policy has become inevitable in light of lower inflation forecasts.
The board also decided to maintain the easing policy itself, aiming to guide the short-term interest rate to minus 0.1 percent and long-term interest rate to around zero.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
