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Financial News: Bank Of Japan Retains Policy Rate

Bank Of Japan Retains Policy Rate

12/18/2019 - 22:12:00 (RTTNews)

(RTTNews) - The Bank of Japan kept its massive monetary stimulus unchanged on Thursday, as widely expected.

The Policy Board of the BoJ voted 7-2 to retain the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.

The bank maintained it yield target for 10-year Japanese government bonds at around zero percent.

Further, the bank will purchase JGBs in a flexible manner so that their outstanding amount will increase at an annual pace of about JPY 80 trillion.

The BoJ reiterated that it will not hesitate to take additional easing measures if there is a greater possibility that the momentum toward achieving the price stability target will be lost.

While the Bank today reiterated its willingness to cut interest rates further if required, Marcel Thieliant, an economist at Capital Economics, said it will keep rates unchanged for the foreseeable future.

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