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Rabobank analysts note that the Bank of Japan has made its forward guidance more time-specific in its meeting today, while maintaining interest rates stable.

Key Quotes

“The BoJ intends to maintain the current extremely low levels of short-term and long-term interest rates for an extended period of time,  at least through spring 2020.”

“The Bank had not mentioned a specific date before. The BoJ strengthened its forward guidance to show its resolve as it was likely to take more time to reach the 2% inflation target.”