Bank of Japan meeting —

At its 23 January 2024 meeting, the Bank of Japan held its policy rate at -0.10%.

Decision

hold — -0.10% to -0.10%

Key passages

The Bank decided, by a unanimous vote, to set the following guideline for market operations for the intermeeting period.

All members voted in favor, indicating no opposition to current policy stance.

The Bank will regard the upper bound of 1.0 percent for 10-year JGB yields as a reference in its market operations.

Clarifies that the 1% cap is now a reference, not a rigid ceiling, allowing yields to rise above 1% but with flexibility.

Meeting documents

Background reading

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