Economic Buzz: Bank Of Japan Keeps Policy Stance Unchanged

17 Jun 2022 , 11:02 AM

The Bank of Japan kept its ultra-expansionary policy stance unchanged on Friday and affirmed that it will not hesitate to take additional easing measures when necessary. The central bank left the policy rate unchanged at -0.10 percent as expected and reaffirmed that it will purchase a necessary amount of Japanese government bonds (JGBs) without setting an upper limit so that 10-year JGB yields will remain at around zero percent. The BoJ board voted 8-1 to retain the policy rate and the 10-year JGB yield target. The BoJ also retained its forward guidance to purchase 10-year JGBs at 0.25 percent every business day through fixed-rate purchase operations, unless it is highly likely that no bids will be submitted. Powered by Commodity Insights