Bank of Japan sticks to ultra-loose monetary policy in light of “extremely high uncertainty”

Bank of Japan sticks to ultra-loose monetary policy in light of “extremely high uncertainty”

Kazuo Ueda, Governor of the Bank of Japan (BOJ), points out while speaking during a press conference at the central bank’s headquarters in Tokyo, Japan, on Tuesday, October 31, 2023.

Kiyoshi Ota | Bloomberg | Getty Images

The Bank of Japan is expected to leave its ultra-loose monetary policy unchanged at its final policy meeting of the year in light of the “extremely high uncertainty” affecting the world’s third-largest economy, pushing any potential unwinding into the new year.

The Bank of Japan unanimously decided to keep interest rates at -0.1%, while also adhering to a yield curve control policy that keeps the upper bound for the 10-year Japanese government bond yield at 1% as a reference.

(Tags for translation) Bank of Japan

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