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Tags: AS | Japan | Economy

Japan's Central Bank Holds Steady on Interest Rate, Stimulus

Wednesday, 15 March 2017 11:37 PM

TOKYO (AP) — Japan's central bank has opted to keep its monetary policy steady, as the U.S. Federal Reserve and European Central Bank move toward tightening.

The Bank of Japan ended a policy meeting on Thursday by keeping the minus 0.1 percent benchmark interest rate unchanged while working toward a 2 percent inflation rate target.

The outcome was as expected.

The central bank is buying about 80 trillion yen ($700 billion) a year of Japanese government bonds to inject more cash into the economy. Interest rates are near zero, the aim is to use expectations of inflation to stimulate more spending and borrowing by businesses and consumers.

The BOJ said in a statement that the economy, which grew at a 1 percent annual pace in 2016, was still on a "moderate recovery trend."

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Asia
Japan's central bank has opted to keep its monetary policy steady, as the U.S. Federal Reserve and European Central Bank move toward tightening.The Bank of Japan ended a policy meeting on Thursday by keeping the minus 0.1 percent benchmark interest rate unchanged while...
AS,Japan,Economy
132
2017-37-15
Wednesday, 15 March 2017 11:37 PM
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