Investing.com – The Bank of Japan kept its benchmark interest rate unchanged, in a widely expected move and announced additional monetary easing on Thursday.
In a statement, the BoJ said it was keeping its benchmark interest rate unchanged between a range of 0.0% to 0.1%, broadly in line with expectations.
A statement on monetary policy released after the announcement showed that the Bank of Japan’s nine-man policy board voted unanimously to maintain the interest rate at its current level.
The BoJ raised its total asset purchase program by JPY5 trillion to about JPY55 trillion yen.
The central bank said its policy board voted 8 to 1 to add the funds, with the money earmarked for buying government bonds.
“For the purpose of further enhancing the spread of monetary easing effect throughout financial markets, the bank judged it appropriate to designate the funds for the purchase of Japanese government bonds.”
Following the decision, the yen was up against the U.S. dollar, with USD/JPY shedding 0.35% to trade at 75.91.
In a statement, the BoJ said it was keeping its benchmark interest rate unchanged between a range of 0.0% to 0.1%, broadly in line with expectations.
A statement on monetary policy released after the announcement showed that the Bank of Japan’s nine-man policy board voted unanimously to maintain the interest rate at its current level.
The BoJ raised its total asset purchase program by JPY5 trillion to about JPY55 trillion yen.
The central bank said its policy board voted 8 to 1 to add the funds, with the money earmarked for buying government bonds.
“For the purpose of further enhancing the spread of monetary easing effect throughout financial markets, the bank judged it appropriate to designate the funds for the purchase of Japanese government bonds.”
Following the decision, the yen was up against the U.S. dollar, with USD/JPY shedding 0.35% to trade at 75.91.