The Bank of Japan announced on Friday that it would maintain its long-term and very lenient monetary policies amid efforts to boost economic growth.
The central bank bucked the approach prevailing as global central banks worked to raise interest rates to counter inflation, depreciating the yen against the dollar.
Bank officials were widely expected to keep monetary policy unchanged after the second two-day meeting chaired by the bank’s new governor, Kazuo Oida, who took office in April.
According to French, officials left the bank’s negative interest rate unchanged and did not adjust the range of 10-year government bond price volatility.
That announcement reduced the Japanese operation to about 141.39 yen per dollar in the afternoon, from about 140.20 yen per morning.
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