20.12.2018 10:24 AM
The Bank of Japan concluded a two-day meeting with a decision on the base interest rate, leaving the current course of monetary policy unchanged, despite the increase in inflation risks.
The interest rate on deposits of commercial banks was kept at minus 0.1%, which is in line with analysts' forecasts. The target yield of ten-year government bonds is left at about 0%. The Central Bank plans to acquire government bonds worth 80 trillion yen annually.
Central Bank officials confirmed their previous estimates, noting that the country's economic growth will be supported by increasing exports and increasing demand in the domestic market.
The current inflation rate is about 1%, while the regulator expects a gradual increase in the indicator to 2%.
Representatives of the Bank of Japan spoke about the increasing role of external risks for the country's economy, mentioning the influence of the "hawkish" policy of the American central bank.
The Bank of Japan meeting took place a few hours after the US Federal Reserve officials raised rates for the fourth time this year, saying they would continue to follow a plan to tighten monetary policy, despite the increased uncertainty about global economic growth.
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