Stocks rose, the yen retreated and long-dated government bond yields rallied around the world Wednesday after Japan’s central bank affirmed its commitment to aggressive easing as it introduced a new monetary policy framework.
At the conclusion of its monetary policy review on Wednesday, the Bank of Japanintroduced an interest-rate target for 10-year government bonds, committing to keep them around zero, and said it would continue quantitative easing until inflation “exceeds” 2%. It left its main interest rates unchanged.
WSJ (21 Sept)
