Specifically, it sets the short-term policy interest rate at minus 0.1 percent and the target level of 10-year Japanese government bond (JGB) yields at around 0 percent in the guideline for market operations, and has been taking measures such as JGB purchases to achieve the target levels.
The interconnections between asset categories (including across different currencies) as well as between different types of financial intermediaries mean that a holistic perspective in required in evaluating alternative trading arrangements in the post-Brexit environment.