BOJ statement: maintains short-term interest rate target at JGB yield target

Bank of Japan monetary policy meeting decision announcement

  • maintains short-term interest rate target at -0.1%
  • maintains 10-year JGB yield target around 0%
  • keeps monetary policy steady
  • decides on details of new loan scheme aimed at boosting lending to small, mid-sized firms hit by coronavirus pandemic
  • ¬†will set aside 75 trln yen for new loan programme to combat coronavirus impact
  • will extend deadline of programme until march 2021
  • won’t hesitate to ease further if needed
  • will conduct loans under new lending program from June