Breaking: BOJ eases policy further, boosts purchases of corporate bond, commercial paper, USD/JPY unfazed

At its shortened one-day virtual monetary policy meeting, the Bank of Japan (BOJ) board members decided to keep rates unchanged at -10bps while maintaining 10yr JGB yield target at 0.00%.

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The central bank increased the annual pace of ETF purchases to ¥12 trillion (previously ¥6 trillion) and introduced a new lending programme to smooth funding for firms at its March 16 emergency meeting.

About BOJ Interest Rate Decision

BoJ Interest Rate Decision is announced by the Bank of Japan. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the JPY. Likewise, if the BoJ has a dovish view on the Japanese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.