Japan’s benchmark 10-year yields touched a record low of minus 0.01 percent Tuesday in the wake of the Bank of Japan’s surprise decision on Jan. 29 to charge some lenders on excess reserves held at the central bank. Governor Haruhiko Kuroda drove down yields to unprecedented levels after initiating a monetary base target in April 2013 and a boosting the BOJ’s bond purchases to a record in October 2014. He said last week he could lower deposit rates further or boost bond buying if needed.
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