Bank Of Japan Targets 10 Yr. Government Bond To Lower Yield

The Bank of Japan decided at the conclusion of its policy meeting on Wednesday to leave its prime deposit rate at -0.1 percent as it aims to lower the yield on its 10 yr. interest rate through more bond purchases to maintain a yield around 0 percent and help drive inflation higher.

The BOJ agreed to continue with its target of ¥80 trillion of Japanese government bonds a year.

The BOJ agreed to keep its quantitative easing program intact until inflation stabilizes above 2 percent and kept the door open to drive its deposit interest rate further into negative territory in the future.

Following the monetary policy decision on Wednesday, the Japanese yen weakened against a basket of currencies and the Japanese Nikkei rose over 1 percent.

Written By:

Johnathan Schweitzer

@SchweitzFinance

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