Statement on Monetary Policy

From boj.or.jp

At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided upon the following. (1) Yield curve control (an 8-1 majority vote) a) The Bank decided to set the following guideline for market operations for the 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 accounts held by financial institutions at the Bank. The long-term policy interest rate: The Bank will purchase a necessary amount of Japanese government bonds (JGBs) without setting and upper limit so that the 10-year JGB ... (full story)