Bank of Japan keeps ultra-loose policy unchanged


As expected, the Bank of Japan has left its key interest rate at 0.1%, and maintained its program of expanding the monetary base by ¥60-70T a year.

The BOJ noted that the economy has continued to recover moderately and will keep doing so, although it will be affected by a "front-loaded increase and subsequent decline in demand" due to an upcoming rise in sales taxes.

While "inflation expectations appear to be rising on the whole," the BOJ said, CPI is "likely to be around 1.25% for some time." The bank's target is 2%.

The Nikkei is +0.2%, while the USD-JPY is +0.1% to ¥104.45. (BOJ Statement)

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