The Bank of Japan decided to keep its current monetary policy unchanged during a morning meeting as expected. The following are the highlights of the Bank of Japan monetary policy statement at its meeting in April:
- Bank members decided by majority vote to keep the current monetary policy unchanged.
- The Bank will apply a negative interest rate of minus 0.1 percent
- The Bank will purchase Japanese government bonds so that 10-year JGB yields will remain at around zero percent.
- The bank will continue to buy government bonds at an annual rate of 80 trillion yen to meet the long-term interest rate target.
- The Bank will continue to buy ETFs and real estate investment funds at an annual rate of $ 6 trillion and $ 90 billion, respectively.
- The bank will keep the volume of purchases of securities and corporate bonds at 2.2 trillion and 3.2 trillion, respectively.
