BOJ announce no change to monetary policy, as expected

The main components of policy:

• short-term interest rate target at -0.1%
• 10-year bond yields target around 0%

unchanged.

• The Bank has downgraded its overall assessment of the economy.
• will take additional easing steps without hesitation as needed, with eye on impact of covid-19 pandemic
• leaves intact guidance that it expects short-, long-term policy interest rate to remain at present or lower levels
• japan's economy likely to recover as pandemic's impact subsides
• 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 likely to clearly accelerate pace of increase for time being

• Japan's economy picking as a trend
• global markets showing unstable moves in wake of Russia's invasion in Ukraine
• exports, output increasing as a trend, though getting affected by supply constraints
• pick-up in consumption moderating
• inflation expectations heightening gradually
• trend inflationary pressure likely to heighten ahead
• there is very high uncertainty on how Ukraine developments affect japan's economy, prices via markets, raw material prices, overseas economies

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Background to this:

Here is what’s on the economic calendar in Asia today - Bank of Japan policy meeting day

Bank of Japan monetary policy decision due today - preview

Still to come:

Bank of Japan Governor Kuroda's press conference follows at 0630 GMT.