Bank of Japan Monetary Policy Decision - 18 June 2024

Kept current policy rate; delay bond tapering plan until July 31st

Kept overnight call rate (OCR) unchanged and decided to delay bond tapering until end-July. The Bank of Japan (BoJ) maintained status quo and offered few details about its bond purchase reduction, partly due to pockets of weakness in the economy and lack of evidence for demand-driven inflation.

Unanimous vote on the short-term interest rate: the bank maintained the OCR in a range of 0.0 – 0.1% by applying an interest rate of 0.1% to deposits held by financial institutions at the Bank.