URGENT: BOJ maintains ultralow rates at policy meeting as expected

The Bank of Japan on Friday maintained ultralow rates and reiterated its commitment to monetary easing, despite market expectations of an earlier-than-expected policy shift. At the end of a two-day policy-setting meeting, the BOJ retained its yield curve control program in a widely expected move. Short-term interest rates are set at minus 0.1 percent and 10-year Japanese government bond yields are guided around zero percent. Policy Board members examined the effects on financial markets and the broader economy of a decision at their previous meeting in July to allow 10-year yields to rise towa...