{"text":[[{"start":6.38,"text":"The Bank of Japan said that underlying inflation in the country had reached its 2 per cent target following decades of deflation."}],[{"start":13.78,"text":"The central bank kept its policy rate on hold at 1.25 per cent at the conclusion of a two-day Monetary Policy Committee meeting on Friday. The decision, by an 8-1 margin, was widely expected in the market."}],[{"start":26.98,"text":"The board’s most hawkish member, Hajime Takata, had proposed raising rates to 1.5 per cent but was defeated."}],[{"start":34.58,"text":"Data released on Friday ahead of the BoJ’s decision showed Tokyo consumer prices, excluding fresh food and energy, rose 2.6 per cent in October compared with the same period last year. That was sharply lower than the 3 per cent year-on-year rise logged in September and marked the first deceleration in five months."}],[{"start":53.84,"text":"A rising number of economists expect the BoJ to raise rates by a further 0.25 percentage points at the board’s meeting in December."}],[{"start":63,"text":"In the hours ahead of the BoJ’s decision, investors had been heavy buyers of Japanese government bonds, pushing yields lower as a rout of US technology stocks triggered a massive knock-on sell-off in Tokyo and sent investors into risk-off mode."}],[{"start":77.58,"text":"The yield on the benchmark 10-year JGB dropped five basis points to 2.78 per cent. Yields move inversely to prices."}],[{"start":90.55,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793334443_9598.mp3"}