Bank of Japan leaves policy unchanged as Kuroda bows out


Japan’s central bank left its ultra-easy monetary policy unchanged in its last meeting before Governor Haruhiko Kuroda steps down and is replaced by economics professor Kazuo Ueda.

While most analysts expected the Bank of Japan to stay the course in Kuroda’s final policy decision, some had speculated about a surprise tweak.

The bank left its longstanding negative interest rate in place and made no further adjustments to the band in which rates for 10-year government bonds fluctuate.

The decision came shortly after Japan’s parliament approved Ueda as the BoJ’s next governor, paving the way for the 71-year-old to take over next month.— AFP