BOJ keeps monetary policy settings unchanged in April, USD/JPY unmoved

The Bank of Japan (BOJ) left its monetary policy settings untouched following the conclusion of its two-day April monetary policy review meeting on Tuesday.

The central bank kept the benchmark policy rate on hold at -10bps while maintaining its pledge to buy J-REITS at an annual pace of up to JPY180 bln.

At its March policy meeting, the BOJ clarified that the 10-year JGB yield may move up or down 0.25% (not 0.2%) around its 0% target. The central bank also altered the ETF buying limits - removing the lower ceiling of 6 trillion yen ($55 billion) while keeping an upper limit of 12 trillion yen. 

more to come ...