Nikkei 225 Falls to 2-Month Low Soon After Bank of Japan Policy Shift Announcements

 


Original Content- Business Upside 

Nikkei logs steep losses following sudden modification by the Bank of Japan in Yield Curve Control (YCC) to lead the Asian stock markets to sink further deep. The Nikkei 225 slumped by nearly 3%.

The Policy Shift by the Bank of Japan

The Bank of Japan widened the YCC tolerance range allowing the yields on the Japanese Government Bonds to be subject to fluctuation.

The BoJ fixed the policy balance rate at -0.10% and adjusted the YCC control band. The central bank stated that the benchmark interest rates were kept steady, along with announcing the yield curve control policy shift.

The ten-year government bond yield fluctuations will be expanded from +/- 0.25% points, which it currently is, to +/- 0.5% points.

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