TOKYO  – The Bank of Japan slowly shifted away from decades of massive monetary stimulus on Friday as inflation and economic growth picked up, allowing the country's interest rates to move more freely. In what some analysts said could be a seismic shift for global financial markets, the BOJ made it was making its bond yield control policy more flexible and loosened its defense of a long-term interest rate cap after a two-day policy meeting. Global markets saw the move as another small step towards Japan's coming in line with other major central banks — which have been aggressively raising rates in the past year to tackle inflation — after decades of aggressive Japanese stimulus which arguably did little to rekindle economic growth.

https://business.inquirer.net/412841/boj-loosens-tight-grip-on-rates-as-prices-rise-markets-bet-on-bigger-pivot

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