The Bank of Japan did not change the key parameters of the monetary policy

Following the results of the two-day meeting of the Bank of Japan, the management of the regulator decided not to change the main parameters of monetary policy.

The short-term interest rate on deposits of commercial banks in the Central Bank was maintained at minus 0.1% per annum, and the target yield of ten-year government bonds was about zero. The decision to keep the PREP unchanged was made unanimously.

The central bank has also maintained the range within which the yield of ten-year government securities (JGB) can fluctuate, plus/minus 0.5%. At the same time, many economists expect that the regulator will refuse to control the yield curve of government bonds at one of the next meetings.

The meeting, which ended today, was the last for the head of the Central Bank Haruhiko Kuroda, who has headed the bank since 2013. Kazou Uedu will become the next chairman of the Bank of Japan: he will head the central bank on April 8, when Kuroda's term of office expires. And the next meeting of the Japanese regulator will be held under the leadership of Uedu on April 27-28.