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BOJ allows more flexible movement for long-term rate, says Kuroda

Japan's central bank aims to improve bond market function and ensure policy sustainability

Haruhiko Kuroda, Bank of Japan governor, on Tuesday said the bank had tweaked its monetary easing programs to enhance policy sustainability. (Photo by Wataru Ito)

TOKYO -- The Bank of Japan will allow the benchmark long-term policy rate to move over a wider range, Governor Haruhiko Kuroda said at a news conference on Tuesday.

The move shows the central bank’s effort to improve the function of the bond market in Japan, which has been repeatedly damaged by the BOJ’s extensive monetary easing policy.

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