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- Bank of Japan holds rates, changes QQE parameters
Bank of Japan holds rates, changes QQE parameters
According to rttnews, the Bank of Japan decided to modify the existing policy framework to achieve the inflation target at the earliest possible time.
"With a view to achieving the the price stability target of 2 percent at the earliest possible time, the Bank decided to introduce 'QQE with yield curve control'," the bank said Wednesday.
Accordingly, the bank will control short-term and long-term interest rates and also it will expand the monetary base until inflation exceeds 2 percent.
"With regard to the amount of JGBs to be purchased, the bank will conduct purchases more or less in line with the current pace - an annual pace of increase in the amount of outstanding of its JGB holdings at about 80 trillion yen," the bank said.
The BoJ will continue applying a negative interest rate of -0.1 percent to the policy rate balances in current accounts held by financial institutions.
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