The Bank of Japan stands still and cancels bond purchases on the same scale as before

On April 26, after the yen fell to a new 34-year low earlier this week, the Bank of Japan held an interest rate meeting and decided to keep interest rates unchanged. According to the statement, the Bank of Japan maintained the base rate at a range of 0% to 0.1%. The decision was widely expected by economists. The Bank of Japan no longer mentioned buying government bonds of roughly the same size as before. A footnote said that the Bank of Japan used to buy bonds of about 6 trillion yen ($38.50 billion) per month. The governor of the Bank of Japan will hold a press conference in Tokyo at 14:30 Beijing time to elaborate on the thinking behind the decision, the future direction of interest rates and the inflation outlook.