The Bank of Japan finally appears to be preparing for an end to its controversial yield curve control program, a policy that has helped provide an anchor for interest rates around the world
surprised investors on Friday by announcing the central bank would allow yields to rise above a ceiling it now calls a point of reference.
That paves the way for a future normalization of policy that has implications for a wide range of global assets and for markets heavily exposed to Japanese money, even if investors need not panic for now.
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