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Economy

Bank of Japan in a fix as bond market regains animal spirits

Central bank seeks to avoid sparking 'Kuroda tantrum' at next meeting

Gov. Haruhiko Kuroda wants to dampen recent speculation about changes to rate controls at the Bank of Japan's meeting next week.   © Reuters

TOKYO -- It was shortly after 7 p.m. on July 20 when Naka Matsuzawa, Nomura Securities' chief rates strategist in Tokyo, received a startling email from a colleague at the brokerage's London branch.

A flurry of news reports that Friday evening had suggested a possible tweak to the Bank of Japan's interest rate targets, citing sources familiar with preliminary discussions.

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