The Bank of Japan is widely expected to keep its ultra-loose monetary policy unc...
TOKYO - The Bank of Japan is widely expected to keep its ultra-loose monetary policy unchanged on Thursday but signal its readiness to ramp up stimulus if global risks threaten the country’s economic expansion, nodding to the widening fallout from the U.S.-China trade war.
The Fed kept interest rates steady on Wednesday but said it was ready to battle risks by cutting rates beginning as early as next month, reinforcing expectations that major central banks have now shifted full gear toward topping up - not whittling down - their crisis-mode policies. At a two-day rate review that ends on Thursday, the BOJ is thus widely expected to maintain its short-term rate target at -0.1% and a pledge to guide 10-year government bond yields around zero percent.
“The trigger for action is when the economy loses momentum for achieving 2% inflation,” said the official, a view echoed by three other sources. BOJ Governor Haruhiko Kuroda has told parliament the central bank’s nine-member board will “certainly” debate heightening global risks at this week’s rate review.
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