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The Wall Street Journal: Bank of Japan stays pat on rates, warns of risks from global ‘protectionist moves’

TOKYO — The Bank of Japan kept its ultra-easy monetary policy in place as concerns grow about the impact of U.S.-China trade tensions on the Japanese economy.

The board voted 7-2 to maintain short-term interest rates at minus 0.1% and the target for the 10-year Japanese government bond yield at around zero. The BOJ reiterated Wednesday that it would keep “extremely” low interest rates “for an extended period” and allow the 10-year JGB yield to move in a more flexible manner.

The central bank kept its price projections largely unchanged in its quarterly outlook report, sticking to the view that inflation won’t reach the BOJ’s 2% target until at least March 2021.

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