BoJ may scrap ultra-loose policy at March meeting, reports say
Policy-makers could be mulling speedy end to yield target and negative rates
The Bank of Japan (BoJ) is considering abolishing its ultra-loose monetary policy as early as its next policy meeting this month, according to media reports.
As part of its yield curve control (YCC) policy introduced in 2016, the BoJ applies a negative interest rate of -0.1% to a portion of banks’ current account deposits held at the central bank. The BoJ also commits to buying an unlimited amount of Japanese government bonds (JGB) to keep the yield on the 10-year bond at around 0%.
On March 9, J
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