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Economy

BOJ defends key bond yield target as global pressure builds

Rising global rates test Japan central bank's ability to defend borrowing cost

The Bank of Japan said last week it would buy an unlimited amount of 10-year government bonds at 0.25% to prevent rising global yields from pushing up domestic borrowing costs.    © Kyodo

TOKYO (Reuters) -- The Bank of Japan successfully defended its key bond yield target on Monday, holding the line on its ultra loose monetary policy, with the 10-year government bond yield falling after the central bank pledged market support to stop rates going higher.

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