SYDNEY – Asian shares were mixed on Wednesday while the Japanese yen tumbled and Japanese yields stayed above policy cap, after the Bank of Japan unanimously decided to keep its yield curve controls in place.
Speculation in the bond market that the BOJ would tweak its yield curve control (YCC) settings at the meeting that concluded on Wednesday, had pushed 10-year government bond yields above the policy cap of 0.5 percent for a fourth straight session.
However, the bank maintained ultra-low interest rates, including its 0.5 percent cap for the 10-year bond yield, defying market expectations it would phase out its massive stimulus programme in the wake of rising inflationary pressur…
Keep on reading: Asian shares mixed, yen tumbles after BOJ keeps yield policy unchanged
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