BoJ sticks to ultra-loose monetary policy

Japan’s inflation has exceeded 2% target for a year, but central bank is unconvinced it is sustainable

Bank of Japan
Bank of Japan

The Bank of Japan kept its ultra-loose monetary policy unchanged today (June 16) as it looks for clearer signs that inflation will be sustainable.

In a widely expected move, the BoJ’s nine-member policy board unanimously decided to hold its target for short-term interest rates at -0.1%. The rate last changed when the central bank adopted negative rates in 2016.

The board also kept its target for 10-year Japanese government bonds at 50 basis points above or below 0% under its yield curve

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