Baku. 31 October. REPORT.AZ/ The Bank of Japan kept its ultra-easy monetary policy in place as concerns grow about the impact of U.S.-China trade tensions on the Japanese economy, report informs citing Market Watch.
The board voted 7-2 to maintain short-term interest rates at minus 0.1% and the target for the 10-year Japanese government bond yield at around zero. The BOJ reiterated Wednesday that it would keep “extremely” low interest rates “for an extended period” and allow the 10-year JGB yield to move in a more flexible manner.
The central bank kept its price projections largely unchanged in its quarterly outlook report, sticking to the view that inflation won’t reach the BOJ’s 2% target until at least March 2021. It said there were more downside risks to the economy and prices than upside potential.