Bank of Japan news: Central bank widens bond yield target range; yen strengthens, Asia markets fall

Bank of Japan news: The BOJ also decided to sharply increase the amount of government bond buying, it said in a policy statement

Bank of Japan news: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020. Pic: Reuters

Bank of Japan news: The Bank of Japan said on Tuesday it will widen the band at which it will allow the 10-year government yield to move around its 0% yield target, as part of fine-tuning measures to address the cost of prolonged monetary easing.

The BOJ also decided to sharply increase the amount of government bond buying, it said in a policy statement. As widely expected, the BOJ kept unchanged its -0.1% target for short-term interest rates, and 0% for the 10-year government bond yield by a unanimous vote.

It also maintained its policy guidance that pledges to ramp up stimulus as needed, and projecting that short- and long-term interest rates will move at "current or lower levels."

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