BOJ ends negative rate policy in shift from bold monetary easing

The Bank of Japan on Tuesday ended unorthodox monetary easing steps of the past decade, scrapping its negative interest rate policy and yield cap program, convinced by robust wage growth leading toward its long-elusive 2 percent inflation goal.In its first rate hike since 2007, the BOJ decided to guide short-term interest rates within a range of zero percent and 0.1 percent, but said financial conditions will remain "accommodative." The decision made the BOJ the last among major central banks to terminate the negative rate policy.The Policy Board said the Japanese central bank will dismantl…READ FULL ARTICLE