BoJ keeps policy steady, as widely expected

Dhwani Mehta FXStreet

On Wednesday, the Bank of Japan (BoJ) concluded its 2-day October monetary policy review meeting and left the monetary policy settings unchanged, holding rates at -10bps while maintaining 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 decision on maintaining its interest rate targets was made by a 7-2 vote with board members Goushi Kataoka and Yutaka Harada dissenting.

The central bank also made no changes to new forward guidance, adopted in July that pledges to keep interest rates extremely low for an extended period.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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