TOKYO — The Bank of Japan left its aggressive easing policy unchanged Friday and offered no new clues on when and how it might join other major central banks in winding down its measures as Haruhiko Kuroda heads toward a second five-year term as governor.
The Japanese central bank voted 8-1 to maintain its target for 10-year Japanese government bond yields at around zero and its short-term deposit rate at minus 0.1%, extending its holding pattern on its current policy settings to a year and a half.
Read: Here’s what analysts were looking for in the BOJ policy update
The bank also stuck with its pledge to buy government bonds at an annual rate of 80 trillion yen ($750 billion), a passage seen by investors as a symbolic gauge of its commitment to easing. The actual pace of purchases has fallen below ¥55 trillion in the most recent 12-month period.
Statement on Monetary Policy https://t.co/OeBl56sJAF— Bank of Japan (@Bank_of_Japan_e) March 9, 2018
The decision to keep policy on hold comes amid recent focus among economists and investors on when the central bank will scale back its easing measures.
An expanded version of this report appears on WSJ.com.
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