Society

Bank of Japan sticks to ultra-easy monetary policy in light of 'extremely high uncertainties'

TOKYO, Dec 19 (cnbc.com) - Japan's central bank expectedly left its ultra-loose monetary policy unchanged at its final policy meeting this year in light of "extremely high uncertainties" affecting the world's third-largest economy, pushing any likely unwinding to the new year.

The Bank of Japan decided unanimously to keep interest rates at -0.1%, while also sticking to its yield curve control policy that keeps the upper limit for 10-year Japanese government bond yield at 1% as a reference.

"With extremely high uncertainties surrounding economies and financial markets at home and abroad, the Bank will patiently continue with monetary easing, while nimbly responding to developments in economic activity and prices, as well as financial conditions," the BOJ said in a policy statement Tuesday.

The Japanese yen weakened after the BOJ decision and was trading at about 143.5 against the greenback in midday trade, while the Nikkei 225

stock index climbed 1%. Yields on the 10-year Japanese government bonds were largely unchanged. ...continue reading

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