The Bank of Japan on Friday maintained ultralow rates and reiterated its commitment to monetary easing, despite market expectations of an earlier-than-expected policy shift.
At the end of a two-day policy-setting meeting, the BOJ retained its yield curve control program in a widely expected move. Short-term interest rates are set at minus 0.1 percent and 10-year Japanese government bond yields are guided around zero percent.
Policy Board members examined the effects on financial markets and the broader economy of a decision at their previous meeting in July to allow 10-year yields to rise toward 1.0 percent.
