Asia

BOJ Starts Moved-Up Policy Meeting After Fed's Rate Cut

By Kyodo News 16 March 2020

TOKYO—The Bank of Japan started a one-day policy meeting on Monday following an emergency US rate cut overnight to stabilize financial markets rattled by the spread of the new coronavirus.

The BOJ moved forward what was originally scheduled to be a two-day gathering starting Wednesday, hours after the Federal Reserve’s decision to cut its target range for the federal funds rate by 1.00 percentage point to 0.00 to 0.25 percent, the lowest level since late 2015.

In the meeting, the BOJ Policy Board is expected to discuss further monetary easing steps such as cutting interest rates further into negative territory and an increase in asset purchases.

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