The Bank of Japan maintained its ultra-expansionary policy stance on Friday and affirmed that it will not hesitate to take additional easing measures when necessary, thus going against the trend of raising interest rates adopted by its peers.
The central bank left the policy rate unchanged at -0.10 percent as expected and reaffirmed that it will purchase a necessary amount of Japanese government bonds (JGBs) without setting an upper limit so that 10-year JGB yields will remain at around zero percent.
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