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 the money market operations for the intermeeting period: The Bank will encourage the uncollateralized overnight rate call to remain at around 0 to 0.1 percent. Regarding purchase of Japanese government bonds, CP, and corporate bonds, The Bank will conduct the purchase in accordance the decisions made at the March 2024 MPM. (full story)

Removes reference from statement that it currently buys about 6 trillion yen of JGBs per month. • At the March 18 decision, the BOJ hiked rates for the first time in 17 years. • Vote was 9-0. • Prior vote was 7-2. • Rates left at around 0-0.10%. • Risks to the economy are generally balanced. • There are extremely high uncertainties on Japan's economic and price outlook. • Japan's economy has recovered moderately although there is some weakness. • Output gap improving, likely to gradually expand. • Medium and long term inflation expectations heightened moderately • Financial conditions have been accommodative • More ... (full story)

The Bank of Japan kept its policy rate unchanged Friday after its monetary policy meeting, holding its benchmark policy rate at 0%-0.1%. This is in line with expectations from economists polled by Reuters. While the move was expected, this comes after Tokyo’s April inflation came in lower than expected, with the core inflation rate at 1.6% compared to expectations of 2.2% from Reuters. The BOJ also said it will continue to conduct bond purchases in line with the March decision. No comment was made by the BOJ on the yen , which has steadily weakened since the BOJ ended its negative interest rate policy last month and ... (full story)