Dow Jones Newswires: Bank of Japan keeps rates unchanged at Kuroda’s final meeting

by | Mar 9, 2023 | Stock Market

TOKYO — The Bank of Japan kept its interest-rate targets unchanged Friday at Gov. Haruhiko Kuroda’s final meeting after 10 years on the job, but analysts expect policy to shift under his successor, Kazuo Ueda. The bank maintained its cap on the 10-year Japanese government bond yield at 0.5% and kept short-term interest rates at minus 0.1%. BOJ officials have said the bank still needs time to examine the effects of its December decision to raise the cap to 0.5% from 0.25%.

Ueda, who was nominated by the government of Prime Minister Fumio Kishida, received final approval from Parliament this week and will take over after Kuroda’s term expires April 8.

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