The Central Bank of Japan kept rates unchanged at the meeting on Wednesday, but made some changes in the policy program. The Bank has designated a last attempt to raise prices and to restore economic growth.
The Bank of Japan decided to keep rates at negative level - minus 0.1%. At the same time unexpectedly markets it has entered the target level for the 10-year interest rates. The central bank has said it will seek to keep them close to zero, in the new structure of its monetary policy aimed at achieving the inflation target of 2%.
Politicians have also said that they will continue the program of quantitative easing as long as inflation does not exceed 2%.
At the same time, the bank confirmed its intention to keep the rate of growth of the monetary base in the range of ¥ 80 trillion annually.
Based on materials WELTRADE