Bank of Japan Holds Rates in 8-1 Vote as Yen Gains 0.4%

The Bank of Japan held its policy rate unchanged in an 8-1 vote, while the yen rose 0.4% to 157.12 per dollar as the central bank said underlying inflation had reached its 2% target. It was the first time the BOJ’s statement described underlying inflation as having reached that level. The decision matched expectations among 53 economists surveyed, leaving the policy rate unchanged despite the inflation assessment. The BOJ also plans to increase annual sales of exchange-traded funds (ETFs) to about 860 billion yen from roughly 330 billion yen starting in January.

Source: TokenPost