TOKYO—The Bank of Japan kept up its relentless quest to defend a key yield cap by offering to buy unlimited amounts of 10-year government bonds on Tuesday, underscoring its resolve to keep policy ultra-loose and putting downward pressure on the yen.
The BOJ’s intervention raised the stakes for policymakers in the world’s third-largest economy as Japan tries to navigate the rising cost of imports from a weakening currency and global fallout of the Ukraine war.
