Free Trial
EURGBP TECHS

Bulls Return

AUSSIE 3-YEAR TECHS

(M2) Gains Still Considered Corrective

STIR FUTURES

Fed Hike Pricing To Year-End Near Post-FOMC Lows

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Policy
MNI (Tokyo)
TOKYO (MNI)

The Bank of Japan board Tuesday noted increased uncertainty on the spread of the Omicron virus variant as it stuck to its baseline recovery scenario and kept policy steady on Tuesday.

“For the time being, the BOJ will closely monitor the impact of Covid-19 and will not hesitate take additional easing measures if necessary, and also it expects short- and long-term interest rates to remain at their present or lower levels.”

On Monday, Tokyo and three surrounding prefectures looked to enforce stricter measures on social distancing and protocols as hospital cases rise.

On the monetary policy, the board decided voted 8-to-1 to stand pat on the yield curve control policy and asset purchases, maintaining its recovery scenario based on accommodative financial conditions, and the government’s economic measures. On the policy decision, Goushi Kataoka, a former private-sector economist, dissented but he did not propose any policy changes.

Under a framework adopted in September 2016, the BOJ targets for the overnight interest rate at -0.1%, see: MNI INSIGHT: BOJ Ready To Defend Yield Curve On Any Fed Moves.

The scale of its purchases of ETFs (exchange-traded funds) and J-REITs (Japan real estate investment trusts) remained about JPY12 trillion and about JPY180 billion, respectively, on annual paces of increase in their amounts outstanding.

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

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.