The bank of Japan (BOJ) maintained son monetary easing policy Friday amid inflationary shock and severe impact of the russian-ukrainian war on the global economy.
Unlike other major central banks such as the US Federal Reserve (Fed) and the Bank of England, which turned to a tightening policy and rising interest rates, the BOJ did not change its monetary policy, keeping the policy rate unchanged at minus 0.1%.
central japan bank also plans keep buying japanese government unlimited bonds and stocks worth up at 12 trillion yen ($101 billion) per year.
” Japan economy chose up as a trend, although some weakness was seen in part, mainly due to the impact of COVID-19,” the BOJ said. in A declaration.
This also recognized that in the middle of Russia invasion of Ukraine, global financial and capital markets have been volatile, prices of raw materials such as crude oil have increased significantly “and future developments deserveon linger over it.”
Japan’s wholesale inflation hit 9.3% in February, the highest in 41 years. Consumer inflation is also projected at rise above 2% after April. the bank aims to achieve the price stability goal of 2%.
