BOJ will cut interest rate further if necessary

FXStreet (Bali) - BOJ will cut interest rate further into negative territory if judged necessary, Reuters reports.

Key Quotes

BOJ to charge interest for excess reserves financial institutions park with BOJ

Will cut interest rate further into negative territory if judged necessary

Negative interest rate will be adopted in tandem with QQE

No change in BOJ's base money target of 80 trln yen

Will introduce 3-tier system on rates

Will aim to lower short end of yield curve, exert further downward pressure on rates via combination of negative rate, large-scale JGB buying

BOJ pushes back timing for achieving its 2 pct inflation target in quarterly report

Japan CPI likely to reach 2 pct in first half of fiscal 2017/18

Will adopt zero rate for its loan support programme, fund-supplying operations

Makes no change in pace of JGB, ETF, J-REIT purchases

Will examine risks to econ, prices, take additional easing steps if needed using quantity, quality, and interest rate

Acted to preempt manifestation of risk of market volatility hurting business confidence