At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by a 7-1 majority vote, to set the following guideline for money market operations for the intermeeting period: The Bank will encourage the uncollateralized overnight call rate to remain at around 1.0 percent. In accordance with the change in the guideline for money market operations, the Bank decided, by a 7-1 majority vote, to change the interest rates applied to its measures. (1) Interest rate applied to the complementary deposit facility The interest rate applied to the complementary deposit facility (the interest rate ... (full story)

At the Monetary Policy Meeting (MPM) held today, the Policy Board of the Bank of Japan reviewed the developments in and functioning of the Japanese government bond (JGB) markets and discussed its approach to future JGB purchases. In principle, long-term interest rates are to be formed in financial markets, and it is appropriate for the Bank to conduct the purchases of JGBs in a predictable manner, while allowing enough flexibility to support stability in the JGB markets. Based on this thinking, with a view to improvement of market functioning and stability of the JGB markets, the Bank decided, by a 7-1 majority vote, ... (full story)