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Published on Sep 21, 2016
The
Bank of Japan's policy changes announced Wednesday takes some pressure
off of the Federal Reserve. "I think it does give the Fed some wiggle
room in the longer-run," said Carol Schleif, deputy chief investment
officer at Abbot Downing. The Bank of Japan left interest rates
unchanged and in negative territory. A further cut to interest rates
would move the Bank of Japan's policy further away from where the
Federal Reserve is. The Bank of Japan also set a new 0% yield target for
its 10-year government bonds, which have remained in negative for
months. The Fed holds its September meeting on Wednesday. TheStreet's
Scott Gamm reports from Wall Street.
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