The Japanese yen rose on Friday morning in Asia, on the back of a report that the Bank of Japan could potentially 'discuss tweaking' its yield curve control policy today.
Under its yield curve control policy, the central bank targets short-term interest rates at -0.1% and the 10-year government bond yield at 0.5% above or below zero.
"The proposed change would keep the rate ceiling, but allow for moderate rises beyond that level," Nikkei said.exceeded the BOJ's 2% target , concerns are rising that Japan's relatively low interest rates have made the yen less attractive and vulnerable to selling. Central banks around the world have raised rates aggressively to rein in on inflation, but Japan has continued to maintain an ultra-loose monetary policy and kept rates low., which excludes volatile fresh food but includes fuel costs, rose 3.0% in July from a year ago. That's slightly more than the 2.9% expected in a Reuters consensus poll.
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