- Prior decision
- Short-term interest rate target maintained at 0.50%
- Vote on policy rate was unanimous
- BOJ to reduce its monthly outright JGB purchases to about ¥2 trillion in January-March 2027
- The vote was a majority vote of 8-1; Tamura dissented saying the bank should allow long-term rates to be determined by the market and its participants
- The amount
will be cut down, in principle, by ~¥400 billion each calendar quarter until January-March 2026 - And then by ~¥200 billion each calendar quarter from April-June 2026
- Japan’s economy has recovered moderately, although some weakness has been seen in part
- Statement details to follow..
This article was written by Justin Low at www.forexlive.com.