At the monetary policy meeting held today, the policy board of the Bank of Japan decided upon the following: (1) Yield Curve Control (a unanimous vote) a) The Bank decided to set the following guideline for market operations for intermeeting period. The short term policy interest rate: The Bank will apply a negative interest rate of minus 0.1 percent to the Policy-Rate Balances in current account held by financial institutions in the Bank. The long term interest rate: The Bank will purchase a necessary amount of Japanese government bonds (JGBs) without setting an upper limit so that 10-year JGB yields will remain at ... (full story)