TOKYO, April 28 ― The Bank of Japan maintained its massive stimulus today and pledged to continue buying unlimited amounts of 10-year government bonds to defend its implicit 0.25 per cent cap, signalling its resolve to focus on supporting a fragile economy.
The BoJ also left unchanged its guidance to keep its interest rate targets at current or lower levels.
As widely expected, the central bank kept unchanged its short-term interest rate target at -0.1 per cent and a pledge to guide the 10-year government bond yield around 0 per cent. The decision was made by a 8-1 vote.
In fresh quarterly projections released today, the BoJ raised its core consumer inflation forecast to 1.9 per cent from 1.1 per cent projected in January. It expects inflation to hit 1.1 per cent for both fiscal 2023 and 2024. ― Reuters