Bank of Japan (BoJ) bond yields step was effective

While the Asian stock markets followed a sales-heavy course excluding the Hong Kong stock market, the BOJ's widening of the bond rate targets affected all asset prices, especially the bond markets around the world.

BOJ did not change the policy rate.

While the BOJ kept the policy rate unchanged at minus 0.10 percent, it increased the range used by Japan for yield curve control in the 10-year bond yield by 25 basis points. After the decision, Japan's 10-year bond yields tested the level of 0.45 percent.

Analysts stated that the decision in question indicates that the bank may change its monetary policy stance after the pressure on prices.