Updated December 21st, 2023 at 10:07 IST

BOJ keeps ultra-loose policy intact

BOJ also maintained the 1.0 per cent upper bound for the 10-year yield.

Reported by: Thomson Reuters
Japanese flag | Image:Unsplash
Advertisement

The Bank of Japan (BOJ) maintained ultra-loose monetary settings on Tuesday in a widely expected move, underscoring policymakers' preference to await more clues on whether wages will rise enough to keep inflation durably around its 2 per cent target.

At the two-day meeting that ended on Tuesday, the BOJ maintained a 0.1 per cent interest charged on financial institutions' excess reserves, and a 0 per cent target for the 10-year government bond yield set under its yield curve control (YCC) policy. 

Advertisement

It also maintained the 1.0 per cent upper bound for the 10-year yield.

"The BOJ will continue to maintain the stability of financing, mainly of firms, and financial markets, and will not hesitate to take additional easing measures if necessary," the BOJ said in a statement, maintaining its dovish policy guidance.

Advertisement

 

Advertisement

Published December 19th, 2023 at 09:47 IST