Bank of Japan Leaves Interest Rates in Negative Territory
On Friday, the Bank of Japan left interest rates at -0.10%. The hold on interest rates came despite recent discussions of a move away from negative rates. Bank of Japan Governor Ueda recently discussed the need for wage growth and consumption to fuel demand-driven inflationary pressures before considering a shift in interest rates.
The hold on interest rates at -0.10% shifted the market focus to the Monetary Policy Statement.
Salient points from the Monetary Policy Statement included,
- The Board unanimously voted in favor of leaving the short-term policy interest rate at -0.10%.
- Unanimously, the Board voted to allow 10-year JGB yields to within a +/- 0.5 percentage point…
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