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Bank of Japan (BoJ) will conclude its first monetary policy meeting for 2024 tomorrow, 23 January. In the past three months, calls from the Japanese private and public sectors and even ex-BoJ officials have urged the Japanese central bank to ditch its current -0.1% short-term interest rate in place since 2016 as such a level is irrelevant and does not reflect the current fundamentals of the Japanese economy. ....
The Bank of Japan maintained its negative interest rate and the yield curve control on Tuesday, and also retained its dovish forward guidance at the final meeting of the year. ....