BoJ cuts by 20 bps and revises growth sharply down
The Bank of Japan (BoJ) this morning cut its leading O/N target interest rate by 20 bps to 0.3% in a split 4-4 decision. Three dissenting board members voted for cutting the O/N target rate by 25 bps (most likely Suda, Nakamura and Kamezaki) and one member voted for leaving the leading interest rate unchanged at 0.5% (most likely Mizuno). The rest of the board, including board Governor Shirakawa and his two deputy governors, voted for a 20 bp cut. At the press briefing Shirakawa said that they
No comments