A protection guard stands at the entrance of Bank of Japan headquarters in Tokyo.
Yuriko Nakao | Reuters
The Bank of Japan deterred its monetary settings steady on Tuesday but added language to its policy statement that it would ease “without hesitation” if the concision loses momentum for achieving the central bank’s 2% inflation target.
As expected, the BOJ maintained its short-term interest figure target at -0.1% and a pledge to guide 10-year government bond yields around 0%.
The BOJ also kept intact its unabashed guidance — or a pledge central banks make on future monetary policy — that commits to keeping current ultra-low pastime rates “for an extended period of time, at least through around spring 2020.”
The decision on maintaining its interest rate butts was made by a 7-2 vote, with board members Goushi Kataoka and Yutaka Harada dissenting. BOJ Governor Haruhiko Kuroda hand down hold a news conference at 3:30 p.m. (0630 GMT) to explain the decision.
In a quarterly review of its long-term projections, the BOJ cut its inflation augury for the current fiscal year ending in March 2020 to 1.0% from 1.1% previously.