Bank of Japan monetary policy statement for October 2019
While policy is unchanged the BOJ has adjusted its forward guidance
- keeps monetary policy steady
- maintains short term rates at target at -0.1%
- maintains 10 yr JGB yield target
- modifies forward guidance on interest rates to more clearly signal future chance of rate cut
- expects short, long term rates to stay at current or lower levels as long as needed
- expects short, long term rates to stay at current or lower levels as long as needed to pay close attention to chance momentum for hitting price target will be lost
- has been no further increase in chance momentum for hitting price target will be lost but must continue to pay attention to that possibility
Headlines via Reuters, bolding mine.
more to come
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Stay tuned in for Bank of Japan Governor Kuroda's press conference due at 0630GMT:
"Say what?"
