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TOKYO (MNI)

The Bank of Japan board Friday maintained its forward guidance for policy rates, saying it will closely monitor the impact of the coronavirus and will not hesitate to take additional easing measures, if necessary.

The bank said it "expects short- and long-term policy interest rates to remain at their present or lower levels."

The BOJ also introduced several new tools to conduct monetary policy in a sustainable manner and respond nimbly and effectively to counter changes in the development of economic activity and prices as well as in financial conditions. It introduced an "Interest Scheme to Promote Lending" that will enable it to cut short- and long-term interest rates while considering the impact on financial intermediation functions.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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