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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