TOKYO – The Bank of Japan (BOJ) on Friday kept ultra-low interest rates but announced a broad review of its monetary policy, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor's massive stimulus program. As widely expected, the BOJ made no changes to its yield curve control (YCC) policy that sets a short-term interest rate target of -0.1 percent and that for the 10-year bond yield around zero. But the central bank modified its guidance on the future policy path and removed a pledge to keep interest rates at 'current or lower levels.

https://business.inquirer.net/398172/bojs-new-boss-keeps-ultra-low-rates-embarks-on-policy-review

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