Bank of Japan holds off on raising negative rates

No changes to yield curve controls

The Bank of Japan (BoJ) has decided not to raise interest rates in its last meeting of 2023, keeping them at a negative level.

Overnight interest rates will stay at -0.1%. The BoJ also kept its yield curve controls steady, following its decision in October to revise its policy and permit yields on 10-year government bonds to increase beyond 1%. The BoJ is the only major central bank to have interest rates below zero, as it attempts to pull the country out of decades of deflation. Bank of Japan keeps interest rates negative as it sets out flexible yield curve control plans In a statement, it said it would "continue to maintain the stability of financing, mainly of firms, and financial markets and will not h...