Japan's central bank to maintain ultralow rate policy, yen hits new lows

Xinhua
22 Sep 2022, 13:55 GMT+10

TOKYO, Sept. 22 (Xinhua) -- The Japanese central bank on Thursday announced to maintain its ultralow rate policy, bucking the global trend of tightening policy to restrain soaring inflation.

At the end of a two-day policy meeting, the Bank of Japan set short-term interest rates unchanged at minus 0.1 percent, in line with expectations, amid moves to support the economy by guiding 10-year Japanese government bond yields around zero percent.

The yen has been falling sharply against the U.S. dollar, shortly after the U.S. Federal Reserve went ahead with another interest rate hike.

On Thursday, the U.S. dollar rose above the 145-yen line in Tokyo trading, hitting a 24-year high.

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