Not quite a good look for the BOJ as they are seen struggling to keep the yield curve in check, just days after having seen their new upper limit of 0.50% being challenged. Market players are pressing for a policy shift by the central bank and they are trying to sniff out any clues that they can ahead of the policy meeting next week.
The move today has already prompted two unscheduled bond buying operations by the BOJ as reported here.
The pressure is really on now for the central bank. So much for fixing that supposed market distortion, eh?