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BOJ drops more hints of bigger yield moves ahead of March review
Bank of Japan policymakers discussed the merits of allowing long-term yields to move more flexibly around the bank’s target, a summary of opinions at their January meeting showed, a sign the idea will be a key element of its policy review in March.As the coronavirus pandemic forces it to maintain a massive stimulus programme for a prolonged period, the BOJ plans to announce in March ways to make its tools more sustainable. “With our monetary easing steps to be prolonged, allowing the 10-year government bond yield to move upward and downward to some extent ... will contribute to financial system stability,” said ... (full story)