BOJ monetary policy statement

22 May 2020 10:51 AM

In an emergency meeting to discuss monetary policy this morning, the Bank of Japan (BoJ) kept interest unchanged but took additional measures to boost the Japanese economy given the deterioration in conditions due to the spread of the coronavirus. The most prominent points mentioned in the monetary policy report are as follows:

BoJ decided by majority vote to keep the interest rate unchanged at -0.10%.

The bank will continue the government bond purchase program without setting an upper limit.

The ten-year yield curve will be controlled near zero levels.

The bank will buy ETFs and real estate investments at an annual pace of 12 trillion yen and 180 billion yen, respectively.

As for individual and corporate bonds, the bank will maintain them at the levels of 2 trillion and 3 trillion yen, respectively.

There will be additional bond purchases of up to 7.5 trillion yen.

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