BoJ surprises markets, cuts interest rate to -0.1%

FXStreet (Bali) - The Bank of Japan, in a surprising move, has adopted negative rates of -0.1% vs 0.1% last.

Headlines

BOJ eases monetary policy further

Adopts negative interest rate policy, to charge interest for excess reserves financial institutions park with BOJ

Adopts negative 0.1 pct interest for excess reserves financial institutions park with BOJ

BOJ decision on negative rates was made by 5-4 vote

Maintains pledge to increase monetary base, its main policy target, at annual pace of 80 trln yen

Decision on monetary base was made by 8-1 vote
More

BOJ's median core cpi forecast for fiscal 2016/17 at +0.8 pct vs +1.4 pct projected in oct

BOJ's median core cpi forecast for fiscal 2017/18 at +1.8 pct vs +1.8 pct projected in oct

BOJ's median core cpi forecast for fiscal 2015/16 at +0.1 pct vs +0.1 pct projected in oct

BOJ expects to meet 2 pct inflation goal around first half of fiscal 2017