Bank of Japan meeting —

At its 28 July 2023 meeting, the Bank of Japan held its policy rate at -0.10%.

Decision

hold — -0.10% to -0.10%

Key passages

At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided to conduct yield curve control with greater flexibility.

Headline decision: YCC flexibility increase without changing rate targets.

sustainable and stable achievement of the price stability target of 2 percent, accompanied by wage increases, has not yet come in sight

Conditions for exit not met, justifying continued easing despite higher inflation.

Meeting documents

Background reading

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