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Kuroda pushes back against speculators after BOJ stands pat

Central bank sees no need for further adjustment after last month's surprise shift

Bank of Japan Gov. Haruhiko Kuroda speaks during a press conference in Tokyo on Jan. 18. (Pool photo)

TOKYO -- Bank of Japan Gov. Haruhiko Kuroda defended the central bank's decision to keep its yield curve control policy unchanged on Wednesday, even as some investors tested its resolve to maintain the interest rate band.

After a two-day meeting, the BOJ's nine-member board kept its target band for 10-year Japanese government bonds at between plus and minus 0.5%. The bank left short-term term interest rates at minus 0.1%, and promised to conduct unlimited bond buying operations every trading day to maintain its control over the yield curve.

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