BoJ rate hike could spark bond exodus

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JAPAN - The Bank of Japan's decision to end its long-running zero interest rate policy, raising rates to 0.25%, could see pension funds rejig their asset allocation, accelerating the diversification of fixed income portfolios.

At its monetary policy meeting today, the BoJ decided by a unanimous vote to change the guideline for money market operations to “encourage the uncollateralised overnight call rate to remain at aro...

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