Japan's central bank on Friday pledged greater flexibility in its target range for 10-year Japanese government bond yields, while keeping its ultra loose interest rate intact and revising core consumer inflation forecast upward for the current fiscal year.
In a policy statement, the Bank of Japan said it will retain the 50 basis point limit on 10-year Japanese government bond yields either side of its 0% target.
It will also offer to purchase 10-year JGBs at 1% every business day through fixed-rate operations, unless no bids are submitted.
But the BOJ held its short-term interest rate target at -0.1% after a two-day meeting.
However, the central bank has said inflation will slow toward the end of this year — a view that's shared by the Japanese government.
Persons:
Kazuo Ueda
Organizations:
Bank of Japan
Locations:
Tokyo's Shinjuku, Japan's