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MNI (Tokyo)
TOKYO (MNI)

Bank of Japan Governor Haruhiko Kuroda said on Monday that the BOJ will prevent wider movements in long-term interest rates from affecting stock prices and that the bank can prevent a sharp rise in the yield through fixed-rate purchase operations for consecutive days.

The BOJ on Friday clarified in its policy statement that the 10-year JGB yield would be tolerated moving in a range between plus and minus 0.25% to the 0% target as against the previously implied -0.20% to +0.20% range. In Monday trade, the 10-year was trading at 0.09%, the lowest level since Feb 17.

Kuroda also said that the BOJ should not change its 2% price target and that the aim to achieve the target by the BOJ as well as the Federal Reserve and the European Central Bank helps stabilize foreign exchange rates.

10-year JGB Yield (generic)

Source: Bloomberg

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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