Japan Ends Negative Interest Rate Policy

Japan has put an end to its negative interest rate policy, marking a historic departure from an aggressive monetary easing program aimed at combatting chronic deflation, Laura He reported for CNN.

The Bank of Japan (BOJ) has raised its short-term interest rates to around 0 to 0.1% from the previous negative 0.1%.

As part of this decision, the Bank of Japan (BOJ) has raised its short-term interest rates to around 0 to 0.1% from the previous negative 0.1%, according to a statement posted on its website.

The bank had implemented negative interest rates in 2016 to intensify monetary easing efforts in the fight against deflation.

Additionally, the BOJ announced its abandonment of the yield curve control policy, which had been designed to maintain the yield on 10-year Japanese government bonds at around 0% to sustain accommodative financial conditions.

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