Bank of Japan leaves rates unchanged as expected

ANKARA

The Bank of Japan on Friday decided to maintain its ultra-loose policy and left the key short-term interest rate unchanged at -0.1%, in line with the market forecast.

The 10-year Japanese government bond yield was kept constant at zero, the BoJ said in a statement after its September meeting.

"With extremely high uncertainties surrounding economies and financial markets at home and abroad, the bank will patiently continue with monetary easing while nimbly responding to developments in economic activity and prices as well as financial conditions," it said.

Due to the policy gap between the BOJ and the other major central banks, the Japanese yen dipped 0.5% to around 148.3 per dollar after Friday’s rate announcement.

The yen has lost more than 11% against the greenback since the beginning of this year.