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RWIU - International Economic Week In Review (1/20-1/24)
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This week, three central banks made interest rate meetings.
The Bank of Japan voted to continue with a -0.1% rate applied to the "policy rate balances." The bank will maintain "Yield Curve Control," which means it will buy a sufficient amount of 10-year bonds to keep long-term rates at 0%. This is how it described the current state of the Japanese economy (emphasis added):
Japan's economy has been on a moderate expanding trend, with a virtuous cycle from income to spending operating, although exports, production, and business sentiment have shown some weakness, mainly affected by