Bank of Japan on hold as inflation slips
The central bank keeps negative rates despite warning about the policy’s risks
The Bank of Japan decided to hold its ultra-loose policy rate at –0.1% today (October 31), as inflation slid away from the target.
The BoJ also raised concerns about the effect years of loose monetary policy could be having on financial stability.
The central bank moved its policy rate into negative territory at the beginning of 2016 in an effort to tackle a long period of low inflation.
But the policy is still struggling to gain traction, as inflation edged down to 1.2% in September from 1.3
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