TOKYO (Reuters) – The yen weakened while Japan’s Nikkei share average swung between small gains and losses after the Bank of Japan on Tuesday announced an end to its long-running ultra-accommodative stimulus programmes, as widely expected.
The central bank ended its negative short-term interest rate policy (NIRP) and yield curve controls (YCC), as well as dropping purchases of risky assets, including exchange-traded funds (ETFs).
Local and international media, including Reuters, had been reporting over the past week of a likely end to most or all of the BOJ’s stimulus programmes at this policy meeting.
The Nikkei was down 0.36% at 39,598.27, after initially extended losses from morning trading and then swinging to small gains.
The dollar was last up 0.35% at 149.67 yen, as traders sold the Japanese currency having largely priced in the decision.
Ten-year June JGB futures were up 0.13 points at 145.56. Cash bonds had yet to trade following the policy decision.
(Reporting by Kevin Buckland; Editing by Jacqueline Wong)
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