BoJ holds rates as politics and sovereign bonds take spotlight
Decision closes out week in which JGB yields rose to historic highs after PM called snap election
In a widely expected decision, the Bank of Japan has left its benchmark interest rate unchanged, after a fresh injection of political uncertainty this week sent Japan government bond (JGB) yields to record highs.
The BoJ said in a statement today (January 23) that its board members had voted to keep its benchmark policy rate at 0.75%. The level was set at the bank’s previous meeting in December, thereby taking the policy rate to a 30-year high.
An economic outlook report released today by the BoJ
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