Japan's central bank keeps rates steady at ultra-low

By Tuba Ongun

The Bank of Japan (BoJ) on Tuesday decided unanimously to keep interest rates at ultra-low levels, while sticking to its yield curve control policy, according to a statement.

The short-term interest rate was left unchanged at minus 0.1% and 10-year bond yields were at around 0%, as widely expected.

The BoJ will patiently continue with monetary easing amid "extremely high uncertainties" at home and abroad, the central bank said in its statement.

"By doing so, it will aim to achieve the price stability target of 2% in a sustainable and stable manner, accompanied by wage increases," it added.

Following the move, the Japanese yen weakened 0.5% to trade at around 143.5 per dollar in midday trading.