BoJ rejects immediate shift to radical easing

bankofjapan

The last monetary policy meeting of Masaaki Shirakawa's tenure as governor of the Bank of Japan (BoJ) ended in a vote for no change in current monetary policy, with the majority rejecting two proposals from board members to step up its efforts to raise inflation towards a 2% per annum target.

In its statement on monetary policy, the BoJ said it will "encourage the uncollateralised overnight call rate to remain at around 0 to 0.1%", adding it will keep the interest rate at "virtually zero" as

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