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Japanese Yen Jumps on BoJ Move, USD/JPY Crumbles to a 4-Month Low

December 20, 2022

Via: DailyFX

The BoJ today left its policy rate unchanged at -0.1% but changed the rates at which the central bank can buy Japanese Government debt (JGBs). The prior band of -0.25% to +0.25% around zero was widened to -0.50% to +0.50%, allowing JGB bond yields out to 10 years to rise. This move is seen as the first hawkish turn by the BoJ who have kept monetary policy ultra-loose in the past years.

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