Bank Of Japan Keeps Policy Unchanged

The Bank of Japan maintained its ultra-loose monetary policy unchanged on Friday, as widely expected.

The board of the BoJ decided to retain a negative interest rate of 0.1 percent on current accounts that financial institutions maintain at the central bank.

The bank also voted to keep the cap on the 10-year Japanese government bonds yield at around zero percent.

“With extremely high uncertainties surrounding economies and financial markets at home and abroad, the Bank will patiently continue with monetary easing while nimbly responding to developments in economic activity and prices as well as financial conditions,” the bank said in a statement.

Official data today showed that inflation excluding fresh food remained unchanged at 3.1 percent in August. Overall consumer price inflation slowed marginally to 3.2 percent from 3.3 percent in July.

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