MNI BRIEF: Japan 10-Yr Yield Falls to 0.395% As BOJ Stands Pat

The yield on the 10-year Japanese government bond fell to 0.395% in early afternoon trade on Wednesday after rising to 0.510% in the morning trade as the Bank of Japan maintained its easy policy.

The 10-year JGB yield rose above the upper limit of the BOJ's target range of 0.50% for a fourth consecutive day.

Market participants had speculated about the outcome of the BOJ meeting, such as a widening of the 10-year yield range, the removal of yield curve control and shortening the long-term interest rate target to a short-term bond yield. The dollar strengthened to JPY131 from JPY 128 before the BOJ meeting decision.