Japan’s central bank left its ultra-loose monetary policy unchanged at its final meeting this year, a move that unraveled the recent yen rally as the Bank of Japan chose to wait for more concrete signs of meaningful wage growth.
The BOJ decided unanimously to keep interest rates at -0.1%, while sticking to its yield curve control policy that keeps the upper limit for 10-year Japanese government bond yield at 1% as a reference, according to a policy statement released Tuesday.