Central bank sees core prices rising 2.8% next fiscal year in revised forecast
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https://www.wsj.com/economy/central-banking/bank-of-japan-backs-away-from-rate-cap-amid-persistent-inflation-fc60add5The Bank of Japan decision came with an acknowledgment that inflation in the country is more long-lasting than the central bank had expected.TOKYO—The Bank of Japan said on Tuesday that it would consider its cap on government bond yields as a reference point rather than a hard boundary, backing away from a seven-year-old policy amid persistent inflation.
Since 2016, the Bank of Japan has prevented the yield on 10-year Japanese government bonds from rising above a certain level, part of a policy known as yield-curve control. In July, it raised the hard cap to 1% from 0.5%.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.
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