BoJ holds policy as expected and plans to sell ETF and J-Reit assets
Two board members vote for hike, but all agree on sales that economists say will help normalise policy
The Bank of Japan held policy steady as expected today (September 19). Its monetary policy board also agreed unanimously to sell off some of the BoJ’s assets in a move that economists said showed the bank’s commitment to policy normalisation.
The BoJ said its key lending rate would remain at 0.5% after the board’s two-day meeting – a move supported by seven of its nine board members. It said Japan’s economy had recovered moderately, and that year-on-year inflation had been in the 2.5–3% range as
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