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Urgent: BOJ to keep negative policy rate at minus 0.1 pct while expanding monetary base

Xinhua, September 21, 2016 Adjust font size:

The Bank of Japan (BOJ) unveiled its new policy framework Wednesday, saying that it will keep its negative policy rate at minus 0.1 percent while modifying framework of its bond-buying program to guide long-term rate at around 0 percent.

The BOJ also said that it will continue to expand the monetary base until consumer prices exceed 2 percent in a stable way.

Nikkei was up around 1.2 pct and the U.S. dollar rose to mid-102 yen zone on the BOJ decision.

The Japanese central bank concluded a two-day Policy Board meeting Wednesday dedicated to having a "comprehensive assessment" of its monetary easing steps in an effort to achieve a 2 percent inflation goal. Endit