Japan Faces Down Market Testing Limits of Yield Curve Control
- Yen rises as finance minister signals concerns over slide
- BOJ buys $4.8 billion of bonds to defend yield curve control
This article is for subscribers only.
Japanese officials beat back market speculation on all sides, striving to keep a lid on borrowing costs while containing a selloff in the yen.
As the Bank of Japan showed its determination to cap bond yields with a pledge of unlimited purchases, government officials signaled concerns over the currency’s recent decline on Tuesday.