After the yen hit a 34-year low earlier this week, the Bank of Japan kept interest rate policy unchanged at the end of a two-day policy meeting on Friday.
According to the policy statement, the Bank of Japan maintained its benchmark interest rate range at 0%-0.1%.
Economists generally expected the decision to hold off.
The bank removed from its statement reference to buying roughly the same amount of government bonds as before. A footnote showed it had purchased about 6 trillion yen ($38.5 billion) of government bonds each month in the past.
After the policy decision was announced, the yen initially fluctuated between intraday highs and lows before falling.
12:33 Tokyo time. The yen fell 0.3% against the US dollar to 156.04, setting a 34-year low.
Bank of Japan Governor Ueda Kazuo will hold a press conference at 15:30 local time to elaborate on the thinking behind the decision, the future interest rate path and the outlook for inflation.
Bank of Japan keeps interest rates unchanged, yen falls to 34-year low
After the yen hit a 34-year low earlier this week, the Bank of Japan kept interest rate policy unchanged at the end of a two-day policy meeting on Friday.
Like (0)
Saxo: Yen intervention will be in vain without hawkish signals from the Bank of Japan
Previous
April 26, 2024 4:38 pm
Sina Finance is recruiting several international financial news editors
Next
April 26, 2024 4:38 pm