Business | Mar 19

Bank of Japan Ends Negative Interest Rates

TOKYO, Mar 19 (News On Japan) - The Bank of Japan has decided to end the negative interest rate policy introduced in 2016. This marks a significant shift in the massive easing measures, resulting in the first interest rate hike since 2007.

The Bank of Japan stated that the negative interest rate policy and other extensive monetary easing measures implemented since 2016 have "served their purpose" and will be discontinued.

Interest rates will be raised for the first time in 17 years, with short-term interest rates expected to move around 0 to 0.1%.

While the bank will continue to purchase government bonds to respond to any sharp rise in long-term interest rates, it will end the purchase of other assets that have supported stock prices.

Following the decision, the currency market saw a slight depreciation of the yen, and stock prices experienced volatile movements.

The market is currently stabilizing ahead of Governor Ueda's press conference.

Source: ANN

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