URGENT: BOJ maintains ultralow rates at policy meeting

Economy

The Bank of Japan on Tuesday left its monetary policy unchanged, including its program designed to keep borrowing costs ultralow.

At the end of a two-day meeting, the Policy Board decided that short-term interest rates will remain at minus 0.1 percent while it will continue guiding 10-year Japanese government bond yields to around zero percent.

The BOJ stuck to its stance that the previously rigid 1.0 percent ceiling is now a “reference” point, a decision made in October to allow long-term yields to rise further and better reflect the economic situation.

Kyodo News

Bank of Japan Kyodo News