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BoJ Minutes: Economy Recovering, Although Risks Remain
(RTTNews) - Members of the Bank of Japan's Monetary Policy Board agreed that the country's economy has continued to pick up steam, minutes from the central bank's meeting on December 19 and 20 revealed on Monday.
But there remain considerable risks to the economy, the minutes added - primary from overseas.
The members also agreed to continue their goal of achieving the price stability target by enhancing the sustainability of monetary easing. They also wanted to modify their yield control curve in order to improve market function.
At the meeting, the BoJ board members unanimously decided to maintain a negative interest rate of -0.1 percent on current accounts that financial institutions maintain at the central bank. They expanded its 10-year Japanese government bond yield target band, pushing the yen sharply higher and leading to a fall in government bonds.
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