Japan to conduct unscheduled bond-buying operations
BoJ announcement comes as yen nears 32-year low against the dollar
Japan’s central bank said today (October 20) that it would carry out emergency bond-buying operations to rein in surging yields on government bonds, as the yen dropped further.
With the widening difference between US and Japanese interest rates, the yen has lost around 30% of its value against the US dollar since the start of this year. The Bank of Japan’s announcement came as the yen hovered around 150 against the dollar, the lowest level since 1990.
The central bank said today that it would
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