BOJ Keeps Monetary Policy Unchanged

Politics

Tokyo, Jan. 21 (Jiji Press)--The Bank of Japan said Tuesday that it decided to keep its current monetary easing policy unchanged at a two-day policy review that ended on the day.

The BOJ Policy Board voted seven to two to keep its short-term policy interest rate at minus 0.1 pct and guide 10-year government bond yields around zero pct.

In a quarterly report released following the policy meeting, the BOJ gave a median forecast of 0.8 pct for Japan's real gross domestic product growth in fiscal 2019, up from its October projection of 0.6 pct.

The central bank put real GDP growth projection in fiscal 2020 at 0.9 pct, up from 0.7 pct, and that in fiscal 2021 at 1.1 pct, up from 1.0 pct.

Also in the latest Outlook for Economic Activity and Prices report, the median inflation forecast for fiscal 2019 among BOJ policymakers fell to 0.6 pct from 0.7 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press