Pedestrians cross a street at night in Tokyo’s Shinjuku area on April 2, 2021.Charly Triballeau | Afp | Getty ImagesJapan’s central bank on Friday pledged greater flexibility in yield curve control policy, while keeping its ultra loose interest rate intact and revising its median consumer inflation forecast upward for the current fiscal year.The Bank of Japan added it will offer to purchase 10-year JGBs at 1% every business day through fixed-rate operations, unless no bids are submitted — a move that effectively expands its tolerance by a further 50 basis points.In a policy statement, the Bank of Japan said it will “continue to allow 10-year JGB yields to fluctuate in the range of around plus and minus 0.5 percentage points from the target level.””While it will conduct yield curve control with greater flexibility, regarding the upper and lower bounds of the range as re …
