BoJ keeps negative rates unchanged
Ueda says more time is needed to assess whether rising wages are supporting inflation
The Bank of Japan (BoJ) kept its “ultra-loose” monetary policy unchanged in a widely expected move on September 22. Governor Kazuo Ueda said it is not yet clear whether wage growth is supporting inflation.
The BoJ’s nine-member policy board unanimously decided to keep the short-term policy rate steady at -0.1%. It maintained its pledge to keep yields on 10-year Japanese government bonds around 0%, within a band between -0.5% and 0.5%, through bond buying. It will also keep a hard cap of 1%
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