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Bank of Japan Market News

The Bank of Japan targets inflation at 2% and ensures the stability of the wider financial system. At present, it uses its yield curve control policy, a the short-term policy interest rate at -0.1% and the long-term policy interest rate at around zero percent. With Japan's core consumer price index still far below the 2% target and the BOJ board's median forecast for the inflation rate in fiscal 2023 to March 2024 just 1%, BOJ Governor Haruhiko Kuroda, whose the second five-year term ends in April 2023, is unlikely achieve the price stability target before he steps down. The BOJ holds its policy-decision meeting eight times a year and the bank releases its quarter Outlook Report in January, April, July and October. Policy decisions are usually around 0300GMT on decision day.

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