On Tuesday, the Bank of Japan (BOJ) concluded its 2-day July monetary policy review meeting and made no changes to its monetary policy settings, holding rates at -10bps while maintaining 10yr JGB yield target at 0.00%.
The BOJ vote was 8 to 1, leaving its pledge to buy JGBs unchanged so that its holdings increase at an annual pace of around 80 trln yen.
The decision on maintaining its interest rate targets was made by a 7-2 vote with board members Goushi Kataoka and Yutaka Harada dissenting.
The central bank left its forward guidance unchanged, adopted in April that said “will keep very low-interest rates levels for extended period of time at least through around spring 2020.”
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