BOJ, ECB Rate Decisions Send Yen to Fresh 15-year Low Against Euro

Examples of Japanese yen banknotes are displayed at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about a new series of banknotes scheduled to be introduced in 2024, in Tokyo, Japan, on Nov. 21, 2022. Kim Kyung-Hoon/Reuters

LONDON/SINGAPORE—The yen fell to a new 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept ultra-low interest rates and forecast that inflation will slow later this year in contrast with the European Central Bank’s (ECB) rate hike on Thursday.

As widely expected, the BOJ maintained its -0.1 percent short-term interest rate target and a 0 percent cap on the 10-year bond yield set under its yield curve control (YCC) policy.