Finance

BOJ did not change yield curve policy

The Bank of Japan (BOJ) did not change interest rates and yield curve policy at its 2-day policy meeting that ended today.

Market expectations that the BOJ will begin to gradually end its continuation incentive program in the face of increasing inflationary pressure have failed.

At the end of the 2-day meeting, the bank unanimously decided to keep the interest rate at -0.10 percent.

The bank also continued its yield curve control policy, which allowed the 10-year bond’s yield to move 50 basis points on either side of the 0 percent target.

The BOJ also said in a statement that it will continue to purchase large-scale bonds and will increase purchases on a flexible basis should the need arise.