BOJ widens trade range for Japan bond yields, in surprise change

The Bank of Japan on Tuesday expanded the trade band for long-term Japanese government bond yields in a surprise shift that was taken by financial markets as a rate hike, after the central bank swam against the global trend of monetary tightening.The yen, which had borne the brunt of the BOJ's persistently dovish streak, spiked relative to the U.S. dollar and 10-year Japanese government bond yields jumped following the decision at the end of the bank's two-day policy meeting.BOJ Governor Haruhiko Kuroda, however, rejected the view that the decision is equivalent to a rate hike or monetary t…READ FULL ARTICLE