Central Banks
BOJ Holds Policy as It Pushes Back Against Market Speculation
- Central bank sticks with yield curve control in blow to yen
- Kuroda says YCC sustainable; analysts see BOJ on borrowed time
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The Bank of Japan pushed back against intense market speculation of policy change by ramping up the defense of its stimulus framework, prompting sharp slides in the yen and bond yields.
Governor Haruhiko Kuroda’s board kept its main policy settings unchanged Wednesday, leaving its negative interest rate at -0.1% and the target for 10-year yields under its curve-control program around 0%.