Asian shares were mixed on Wednesday while the Japanese yen tumbled and Japanese yields stayed above policy cap, after the Bank of Japan unanimously decided to keep its yield curve controls in place.
Mahjabeen Zaman, head of FX Research at ANZ, now expects any further rises in the Japanese yen might have to be delayed until April when the new BOJ governor assumes position.
Mizuho Bank analysts said in a note that the BOJ adjusting YCC or pushing interest rates above zero was just a matter of time and execution, given the pressures arising from its divergence from monetary policy elsewhere.
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