BoJ leaves monetary policy unchanged

The Bank of Japan (BoJ) concluded its 2-day monetary policy review meeting today and announced no changes to its monetary policy settings, holding rates at -10bps while maintaining the 10yr JGB yield target at 0.00%.

The BoJ vote was 8 to 1, leaving its pledge to buy JGBs unchanged so that its holdings increase at an annual pace of around 80 trln yen. The BoJ board member Kataoka dissents again.