TOKYO -- As the U.S. and Europe wind down their monetary tightening cycles, the Bank of Japan has tweaked its yield curve control policy to let interest rates rise up to 1%, aiming to ease the burden on a public squeezed by inflation and a soft yen.
Speaking to reporters after Friday's policy board meeting, Gov. Kazuo Ueda expressed concern that the central bank's rigid rate policy had contributed to swings in the yen. "Our goal is to limit market volatility as much as possible, including in the currency market," he said.
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