The Bank of Japan unveiled a set of carefully crafted policy tweaks aimed at giving itself more flexibility to keep up its long quest to revive inflation. The bank set out a wider-than-previously-thought movement range for bond yields and scrapped a buying target for stock funds at the end of a three-month policy review. While the currency and bond markets largely took the moves in stride, the BoJ’s decision to focus its purchasing of exchange-traded funds on the wider Topix index drove down shares on the Nikkei 225. Many of the tweaks will give the BoJ greater scope to buy fewer assets and could be viewed as a stepping back from stimulus, but the central bank characterised the changes as s
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