BOJ overhauls policy framework, sets yield curve target

September 21, 2016 5:45 AM

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BOJ overhauls policy framework, sets yield curve target

The Bank of Japan added a long-term interest rate target to its massive asset-buying programme on Wednesday, overhauling its policy framework and recommitting to reaching its 2 percent inflation target as quickly as possible.

The central bank also said it will allow inflation to overshoot its target by maintaining an ultra-loose policy - beefing up its previous commitment to keep policy easy until the target was reached and kept in a stable manner.

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