BoJ announced to keep monetary policy unchanged by 8-1 vote. Short term interest rate is held at -0.1%. The central bank will also continue with JGB purchases to keep 10 year yield at around 0%. The current pace of JPY 80T annual purchase is also maintained
BoJ also maintained the pledge to continue with the “Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control” until year-on-year core CPI stay above 2% target in a “stable manner”.
Goushi Kataoka dissented again. It’s noted in the statement that “taking account of risk factors through fiscal 2020 such as the consumption tax hike and a possible economic downturn in the United States”, Kataoka believed it’s desirable to “further strengthen monetary easing”.
