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The Bank of Japan just shocked markets with a policy tweak — here's why it matters
The Bank of Japan announced Friday “greater flexibility” in its monetary policy — surprising global financial markets. The central bank loosened its yield curve control — or YCC — in an unexpected move with wide-ranging ramifications. It sent the Japanese yen whipsawing against the U.S. dollar, while Japanese stocks and government bond prices slid.Elsewhere, the Stoxx 600 in Europe opened lower and government bond yields in the region jumped. On Thursday, ahead of the Bank of Japan statement, reports that the central bank was going to discuss its yield curve control policy also contributed to a lower close ... (full story)
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