BOJ stands pat as global uncertainty dissipates

US-China 'phase one' deal and service sector resilience reduce need for more easing

The Bank of Japan held interest rates steady despite concerns about private sector consumption weakening after an increase in the sales tax in October.

MITSURU OBE, Nikkei staff writer

December 19, 2019 11:46 JST

TOKYO -- The Bank of Japan kept its ultra easy monetary policy unchanged on Thursday as uncertainty over the state of the global economy fades.

After a two-day policy board meeting, the Japanese central bank decided to maintain its current measures, including guiding long-term interest rates to around zero, keeping short-term interest rates to minus 0.1%, and increasing the central bank's holdings of Japanese government debt by 80 trillion yen a year.