BOJ keeps policy steady in January, downgrades economic assessment
|The Bank of Japan (BOJ) kept its monetary policy settings unadjusted on the conclusion of its two-day January monetary policy review meeting on Thursday.
The central bank left the key rate steady at -10bps while maintaining a 10yr JGB yield target at 0.00%.
The BOJ trimmed its economic forecast for the current year ending in March to a 5.6% contraction from the previous forecast for a 5.5% decline.
More: BOJ Quarterly Outlook Report: Japan's economy in severe state but recovering as a trend
Statement summary
Decision on yield curve control made by 7-1 vote.
Board member Kataoka opposes decision on yield curve control.
Board member Amamiya was absent from meeting.
Market reaction
USD/JPY is a little changed on the announcement, trading modestly flat above 103.50 amid broad-based US dollar weakness.
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