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BOJ keeps ultraloose policy after Fed rate hike

Japan's central bank set to be world's only central bank with negative rate

The Bank of Japan has kept its ultraloose monetary policy in place, believing it necessary to maintain the inflationary momentum seen in recent months. (Photo by Rie Ishii) 

TOKYO -- The Bank of Japan maintained its ultraloose monetary policy, as it continues to buck the global tightening trend, following the U.S. Federal Reserve's sharp interest rate increase overnight.

After a two-day policy meeting, the BOJ's board on Thursday, as expected, decided to keep its monetary policy unchanged. Under its "yield-curve control policy," the bank can purchase Japanese government bonds without limit to guide 10-year government bond yields to zero and short-term rates to minus 0.1%.

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