Bank of Japan leaves policy unchanged, as widely expected

• Short term interest rate target unchanged at -0.1%
• 10 year JGB yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term target unchanged at around 0%
• +/-50bp band for 10-year JGB yield target left unchanged
• The BOJ says the vote on YCC was unanimous

Headlines via Reuters:

• BOJ leaves unchanged forward guidance on interest rates
• Japan's economy picking up
• Japan's economy expected to recover as impact of pandemic, supply constraints fade
• Exports and output moving sideways, capex and consumption increasingly moderately
• Core consumer inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term moving around 4%
• Inflation expectations heightening
• Will keep balance of commercial paper holdings around 2 trln yen
• Will purchase corporate bonds at about the same pace as before covid so amount outstanding will gradually return to pre-pandemic level of around 3 trln yen

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Bank of Japan Governor Kuroda press conference will follow at 0630 GMT.

His last one!