Japan Maintains Large-Scale Monetary Easing... First Meeting Chaired by New Bank of Japan Governor

The Bank of Japan, Japan's central bank, decided to maintain its large-scale monetary easing policy at the Monetary Policy Meeting held for the first time since the leadership change.

At this meeting chaired by Kazuo Ueda, Governor of the Bank of Japan, the bank decided to maintain policies including ▲ short-term interest rate at -0.1% and ▲ guiding the 10-year government bond yield around 0%.

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Governor Ueda stated at the press conference, "We plan to persistently continue monetary easing with the goal of steadily and stably achieving the 2% price stability target accompanied by wage increases."

In response to a question about reviewing monetary easing, he said, "It seems it will take a little more time for the underlying inflation rate to reach 2%, so the basic stance is to continue the current monetary easing."

However, he also acknowledged, "We cannot deny that side effects are appearing in various places," adding, "Although we are not currently considering any changes, we will always carefully analyze the effects and side effects of the policy and communicate information accordingly."

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