What changed in the Bank of Japan statement —
Bank of Japan raised policy at 0.00–0.10%. The vote was 9-0. Read the official statement and the previous release side by side below.
Decision
- Decision: hike
- Policy rate: 0.00–0.10%
- Vote: 9-0
Going into the decision
On the day, the committee read as hawkish — 1.3 on a scale where +3 means every member wants higher rates and −3 means every member wants cuts.
Reconstructed from official member remarks published before the decision date. 5 of 9 active members had stored official remarks.
Official statement
April 26 , 2024 Bank of Japan Statement on Monetary Policy At the Monetary Policy Meeting (MPM) held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period: The Bank will encourage the uncollateralized overnight call rate to remain at around 0 to 0.1 percent. Regarding purchases of Japanese government bonds, CP , and corporate bonds, the Bank will conduct the purchases in accordance with the decisions made at the March 2024 MPM.
Reference Meeting hours: Thursday, April 25: 14:00-16:10 Friday, April 26: 9:00-12:15 Policy Board members present: UEDA Kazuo, Chairman (Governor) HIMINO Ryozo (Deputy Governor) 1 UCHIDA Shinichi (Deputy Governor) ADACHI Seiji NAKAMURA Toyoaki NOGUCHI Asahi NAKAGAWA Junko TAKATA Hajime TAMURA Naoki
1 HIMINO was present via conference call. [Others present] April 25 From the Ministry of Finance: SAKAMOTO Motoru, Deputy Vice-Minister for Policy Planning and Coordination (14:00-16:10) From the Cabinet Office: INOUE Hiroyuki, Vice-Minister for Policy Coordination (14:00-16:10) April 26 From the Ministry of Finance: AKAZAWA Ryosei, State Minister of Finance (9:00-11:57, 12:03-12:15) From the Cabinet Office: MORO Kengo, Deputy Director General for Economic and Fiscal Management (9:00-10:56) SHINDO Yoshitaka, Minister of State for Economic and Fiscal Policy (10:57-11:57, 12:03-12:15) Release dates and times: Statement on Monetary Policy -- Friday, April 26 at 12:22 Outlook for Economic Activity and Prices (Outlook Report) The Bank's View -- Friday, April 26 at 12:22 Full text -- Tuesday, April 30 at 14:00 Summary of Opinions -- Thursday, May 9 at 8:50 Minutes of the Monetary Policy Meeting -- Wednesday, June 19 at 8:50
Related
Background reading
Cadence's comparison is generated from the official documents. Read the methodology.
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