Skip to main content

Bank of Japan Takes Surprise Step to Spark Inflation in Policy Revamp

The Bank of Japan introduces a zero percent interest-rate target for 10 year government bonds to step up its fight against deflation.

The Bank of Japan introduces a zero percent interest-rate target for 10 year government bonds to step up its fight against deflation. The move is unprecedented and a whole new game for financial policy in the country. The Japanese 10 year bond briefly emerged out of negative territory after the announcement. The BOJ policy overhaul comes ahead of the Federal Reserve wrapping up its meeting with a decision on interest rates to be announced this afternoon. Another CEO is on the hot seat in Congress today. Mylan Pharmaceutials (MYL) - Get Viatris, Inc. Report Chief Executive Heather Bresch will go before a House Committee to answer questions about the outrage over price hikes for the Epipen. In prepared testimony, Bresch will say it's not true the company makes big profits off its lifesaving allergy treatment. Bresch says Mylan makes about $50 from each pen after rebates, fees and other costs are deducted. Samsung says the new Galaxy Note 7 will be available in U.S. stores starting today. The phone replace about a million devices that are being recalled because the batteries can catch fire.

This article was written by a staff member of TheStreet.

Scroll to Continue

TheStreet Recommends