The Central Bank of Japan (BoJ) is putting an end to its negative rate policy for the first time in 17 years, in the wake of the first signs of the hoped-for wage growth and expectations of achieving stable inflation.
The committee led by Governor Kazuo Ueda decided to increase the reference interest rate to zero percent from the previous minus 0.1%.
Also expected is the progressive abandonment of the yield control program (YCC), adopted in 2016 together with the negative rate formula, and the interruption of massive purchases of risky assets such as traded investment funds (ETFs).
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