Bank of Japan's policy reset muddies markets' risk mood

September 21, 2016 9:03 AM

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Bank of Japan's policy reset muddies markets' risk mood

SINGAPORE The Bank of Japan's monetary policy reboot on Wednesday was met with a rising dollar, tepid Asian stock markets and a broad uptick in bond yields, indicating investors struggled for clarity on what the changes mean for global risk appetite.

At the outset, the BOJ's overhaul of its quantitative easing program appeared bold - shifting from targeting the volume of asset purchases to levels on the yield curve, keeping its negative short-term policy rate and aiming to overshoot an already ambitious 2 percent inflation target.

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