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The Bank of Japan (BOJ) is poised to end its negative rate policy, yield curve control, and asset purchases, marking a significant shift in Japanese monetary policy. Governor Ueda proposes lifting negative rates and making changes to policy, with a focus on maintaining an accommodative financial environment. The BOJ also plans to continue buying bonds and monitor inflation expectations.
#BOJ Takes "Big Bang" Step as It Exits Negative Rates, Drops YCC, ETF Buying: Sheard If @BankOfJapan's Ueda had only moved negative 0.1% rate ip 20 bps to plus 0.1% not such a big deal. But jettisoning the old tools entirely opens door wide to further policy moves IF data show…
🇯🇵#BoJ ends era of negative rates, raising policy rate range to 0-0.1% (from -0.1%) ➡️ Scraps Yield Curve Control program but pledge to continue buying long-term bonds as needed ➡️Ends ETF purchases ➡️ “Importance of maintaining accommodating environment” https://t.co/fVz9BJBGGp
As expected, Bank of Japan ends 8 years of negative interest rate policy (NIRP). It also will no longer be buying riskier products, like ETFs. Yen falls 1% and global equities modestly retreat... https://t.co/J7Y7Vj5WyS