The Bank of Japan left its key short-term interest rate unchanged at -0.1%
Policymakers also introduced a new operation to provide loans against corporate debt (of about JPY 8 trillion as of end February) as collateral at the interest rate of 0% with maturity up to 1 year. This operation will be conducted until the end of September 2020.
The central bank also increased the upper limit to purchase CP and corporate bonds by JPY 2 trillion in total and conduct with the upper limit of their amounts outstanding of about JPY 3.2 trillion and JPY 4.2 trillion respectively.The additional purchase will continue until the end of September.
Monday's meeting replaced a regular rate review that was initially scheduled for 18-19 March.