BOJ policy statement – eases monetary policy further

The shortened Bank of Japan monetary policy meeting for April 2020 has concluded.

  • Maintains policy rate at -0.1%
  • maintains JGB yield target around 0%
  • To increase corporate bond, commercial paper purchases
  • expands loan programme to combat coronavirus
  • pledges to buy unlimited amount of JGBs, removes pledge to buy JGBs so its holdings increase at annual pace of around 80 trln yen
  • to buy up to 20 trln yen of corporate bonds
  • to relax rules for its corporate bond, commercial paper purchases