Japan’s central bank announced on Tuesday, July 31, that it will maintain the current extremely low levels of short- and long-term interest rates for an “extended period of time.”
The short-term interest rate, which is measured by the interest rate applied to current accounts held by financial institutions at the Bank of Japan (BOJ), will be -0.1 percent. Ten-year Japanese government bond yields, which is an indicator of long-term interest rate, will remain at around zero percent, the BOJ said in a statement.
