Bank of Japan Maintains Ultra-Low Rate Policy despite US, Europe Hikes

The Bank of Japan agreed to maintain its ultra-low interest rate at minus 0.1 percent. The decision was made on Friday, after a two-day meeting.
Policymakers also continued asset purchases to keep long-term rates near 0 percent, signaling their resolve to support the economy’s slow recovery from the COVID-19 pandemic.
The decision leaves the BOJ’s stance more at odds with those of other major central banks, which are aggressively tightening policy to combat growing inflation.
Japanese yen plummeted as much as 1.7% and the rate on the benchmark 10-year Japanese government bond (JGB) decreased after the BOJ’s decision to maintain its dovish stance.