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6/15, 5:06 AM (Source: TeleTrader.com)
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BoJ: No change in monetary policy

Bank of Japan (BoJ) decided on Friday to keep its monetary policy steady, BoJ said in a statement following the bank's June meeting. The decision made by an 8 to 1 majority vote sets the short-term policy interest rate, allowing the bank to apply a negative interest rate of minus 0.1%.

Looking at lhe long-term interest rate, the bank decided to purchase Japanese government bonds (JGBs), in order to maintain the 10-year JGB yield target around 0%.

The country's economy is expanding moderately, the statement reads, adding that "overseas economies have continued to grow firmly on the whole." Regarding the outlook, the bank expects Japan's economy to continue its moderate expansion.

Breaking the News / BM