Economic Buzz: Japan Keeps Its Interest Rate Unchanged At -0.1%

22 Sep 2022 , 11:26 AM

The Bank of Japan maintained its ultra-loose monetary policy on Thursday despite the sharp weakening of the yen amid tightening stance adopted by its global peers. The policy board decided to maintain a negative interest rate of -0.1 percent on current accounts that financial institutions maintain at the central bank. The bank will continue to purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent. The bank vowed to take additional easing measures if required. The BoJ expects to keep the short- and long-term policy interest rates at their present or lower levels. Japans consumer price inflation rose to 3.0 percent in August but it is widely expected to decelerate next year.Powered by Commodity Insights