Tuesday, March 28, 2023

Japan keeps interest rates low

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Yen gives way

Japan keeps interest rates low

The Japanese central bank is sticking to its policy of extremely low interest rates. Concluding two days of deliberations, the Bank of Japan (BoJ) decided on Wednesday to keep short- and long-term interest rates at low levels.

Published: 20 minutes ago

The Bank of Japan is not changing its monetary policy. Pictured is a display of Japan’s Nikkei 225 index.

On December 20, the central bank decided to change the range in which the ten-year bond yield is allowed to move. This was interpreted as a change in strategy by the BoJ and led to violent market reactions and a massive rise in yields.

In the run-up to the latest monetary policy decision, market circles speculated that the BoJ could take further measures. However, the central bank left the range for the 10-year bond yield at minus 0.5 percent and 0.5 percent. The yen weakened significantly against the dollar in response to the BoJ’s subsequent decision.

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