Bank of Japan stands pat on rates, easing program
HONG KONG (MarketWatch) – The Bank of Japan on Tuesday said it decided to keep its overnight call rate target unchanged in the 0.0% to 0.1% range, while also maintaining the size of its asset-purchase program unchanged, with the motions carried in a unanimous vote. The Japanese central bank reiterated its commitment to overcoming deflation as early as possible, noting CPI inflation currently remains around zero. It said it plans to maintain its ultra-low interest rate policy while “steadily increasing the amount outstanding of the Asset Purchase Program.” Tokyo’s Nikkei Average rose 0.3% in the wake of the central bank’s policy announcement, up from a marginal advance of 0.1% ahead of the decision.
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