BOJ ends negative rate policy
Reuters
Published Mar 18, 2024 11:38PM ET
TOKYO (Reuters) - The Bank of Japan (BOJ) on Tuesday decided to end its negative interest rate policy, marking a landmark shift away from its huge stimulus programme.
It was Japan's first interest rate hike since 2007.
BOJ Governor Kazuo Ueda is expected to hold a news conference at 3:30 p.m. (0630 GMT) to explain the decision.
Under its negative interest rate policy, the BOJ had applied a 0.1% charge to a small pool of financial institutions' excess reserves parked with the central bank. The policy had been in place since 2016.
With inflation having exceeded the BOJ's 2% target for well over a year, many market players had expected the central bank to exit its ultra-loose monetary policy in March or April.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.