Earlier today (or late last night depending on your time zone) the BOJ made the announcement that instead of staying focused on their inflation target of 2% they were going to focus on managing the 10 year interest rates on bonds. This change in policy came as a bit of a surprise to analysts and we saw the Yen and gold move higher. There are still some of the finer details to work out but Chris Temple and I chatted about our first impression on the BOJ comments.
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