Bank of Japan Lets Interest Rates Rise, Causing Yen to Surge

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Bank of Japan Lets Interest Rates Rise, Causing Yen to Surge
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The Japanese central bank set its target range for the 10-year Japanese government bond at between minus 0.5% and plus 0.5%

TOKYO—The Bank of Japan made a surprise decision to let Japanese government bond yields rise to a higher level, a move that caused the yen to rise sharply.

. Previously the target range was between minus 0.25% and plus 0.25%.

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