Despite the destabilizing effect of the war in Ukraine on financial markets and commodity prices, the Bank of Japan (YCB) has left the parameters of its monetary policy unchanged.
The Japanese regulator, as expected, kept the interest rate at -0.1%, while interest on 10-year bonds remained around 0% after a two-day meeting.
The statement of the board of the financial institution says that the Japanese economy is growing. However, new risks that military actions in Ukraine may pose remain on the agenda.
IAB also reports that against the background of slowing inflation and wage growth relative to other countries, it would be most effective to maintain incentives in the near future, at least until the end of the term of office of the current governor Kuroda. They will not be withdrawn and the bank's target level will remain at 2% in the coming months.
Data released earlier on Friday showed that the consumer price index rose 0.6 percent year-on-year. This is the fastest growth rate in two years. However, it is significantly lower relative to the growth of inflation in the eurozone and the United States.
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