At their March monetary policy meeting, members of the Council of the Bank of Japan (BoJ) decided to keep their monetary policy parameters unchanged, maintaining the interest rates at -10 basis points (-0.1%) and the goal of 10-year JGB yield at 0.00%.
Summary of Bank of Japan statement
The entity has decided not to make changes to the performance band.
The bank will continue to allow 10-year JGB yields to fluctuate in the range of around plus and minus 0.5 percentage points from the target level, and will offer to buy 10-year JGBP at 0.5% every business day through long trades. fixed rate, unless it is highly probable that no offers will be submitted.
The Bank of Japan makes the decision on yield curve control by unanimity.
The forward guidance on interest rates is not changed. The entity expects interest rates to remain at the same level or even lower in the short and long term.
Source: Fx Street
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