17 June 2022

Bank of Japan Keeps Interest Rates Low

International and Arabic
  • Japan

Tokyo, June 17 (QNA) - The Bank of Japan maintained ultra-low interest rates on Friday and its guidance to keep borrowing costs at "present or lower" levels, signaling its resolve to focus on supporting the economys tepid recovery from the Covid-19 pandemic.
At the two-day policy meeting that ended on Friday, the BOJ maintained its -0.1% target for short-term rates and its pledge to guide the 10-year yield around 0% by a 8-1 vote.
The decision was widely expected, but leaves the BOJs stance even more at odds with other major central banks, which are aggressively tightening policy to curb surging inflation.
"There was speculation the BOJ could tweak policy to address currency moves, but the answer from the central bank was no," said Shotaro Kugo, an economist at Daiwa Institute of Research.
The bank also left unchanged guidance that short- and long-term rates were expected to remain at "present or low levels." (QNA)


Economy, International
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