Yield on 10-year government bond repeatedly tops central bank’s ceiling
Bank of Japan Gov. Haruhiko Kuroda has devoted his term to keeping interest rates ultralow.
Photo: KIM KYUNG-HOON/REUTERS
TOKYO—The Bank of Japan is under pressure to revise policy again at its meeting ending Wednesday after investors repeatedly attacked the central bank’s new 0.5% cap for the 10-year government bond yield.
The battle between the BOJ and the markets has upended what are expected to be the final months of Gov. Haruhiko Kuroda‘s decade in the job. He has devoted his term to keeping interest rates ultralow, a policy that many market players believe is likely to end this year with inflation in Japan nearing 4%.
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