BoJ ends negative interest rate policy
Japanese central bank also scraps yield curve control policy and ends ETF purchases
The Bank of Japan raised rates for the first time in 17 years today (March 19), ending the negative rate policy it introduced in 2016.
The BoJ also abolished its yield target for Japanese sovereign bonds and scaled back its asset purchase programmes.
In a 7–2 vote, the BoJ’s policy board decided at its March 18-19 meeting to raise its short-term interest rate to between 0% and 0.1%, from -0.1% previously. The BoJ will achieve this by applying a 0.1% interest rate to current account balances held
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