2023-12-19 01:13:26 ET
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The Bank of Japan (BOJ) at the end of a two-day meeting kept its short-term rate at -0.1% and that for the 10-year government bond yields around 0%, as widely expected.
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The board also retained a loose upper band of 1.0% set for the long-term government yield.
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The decision were on account of high uncertainties surrounding the economy and price movement.
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With the move, the BoJ aims to achieve a price stability target of 2% in a sustainable manner, accompanied by wage increases. The committee reiterated that it will not hesitate to take extra easing measures if needed.
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Before the meeting, bets for policy shift from the central bank grew after Governor Kazuo Ueda earlier in the month talked about some monetary policy normalization. He also warned of an “even more challenging year” in 2024.
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Currency: ( USD:JPY )
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Bank of Japan maintains its ultra-loose monetary policy; no change to dovish policy guidance