Bank of Japan changes course, effectively increases interest rate

The Yomiuri Shimbun

12:46 JST, December 20, 2022

The Bank of Japan expanded the range of fluctuation for its long-term interest rate policy on Tuesday, keeping the target at around 0% but allowing 10-year-bond yields to rise as high as 0.5%.

As the previous range had limited the high end of the range to 0.25%, the move is effectively an increase in interest rates.

The short-term interest rate was maintained at minus 0.1%.