Kazuo Ueda said Friday that the bank's decision to make its yield curve control more flexible doesn't mean a shift of its easy monetary policy stance. It also said it would purchase JGBs at a 1% yield every business day, which effectively sets a new hard cap for the 10-year yield at 1%. Friday's decision would give the JGB market more freedom to determine the 10-year yield on its own, Ueda said. Write to Megumi Fujikawa at megumi.fujikawa@wsj.com-This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires07-28-23 0451ETCopyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal July 28, 2023 15:04 UTC