BOJ loosens grip on long-term yields, in policy tweak

The Bank of Japan decided Friday to make its controversial yield curve control program less rigid, allowing long-term yields to rise above its 0.5 percent ceiling, amid signs of entrenched inflation that could raise pressure on the central bank to further shift away from its ultralow interest rate policy.At the end of a two-day policy meeting, the BOJ said it will offer to buy 10-year government bonds at a fixed rate of 1.0 percent every business day in principle, up from 0.5 percent previously.The tweaking of the yield curve control program would help to address the side effects of keeping…READ FULL ARTICLE