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Market volatility an unwelcome turn at critical juncture

TOKYO -- Tensions are high at the Bank of Japan amid a bout of arguably unexpected financial market anxiety that some officials complain is overwrought.

     BOJ policymakers decided on Jan. 29 to impose a negative interest rate on a portion of banks' current-account deposits. Only on a few days that followed did buying of Japanese equities and selling of yen quicken. Then, stocks and the yen reversed course amid growing uncertainty over the economic outlook overseas.

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