The Bank of Japan, as expected, retained the main parameters of the monetary policy following the meeting on March 15-16.

The Central Bank kept the interest rate on deposits of commercial banks at the level of 0.1% and the target yield of 10-year government bonds at around zero.

The decision to control the yield curve was taken by a vote of 7 to 2. Sato and Kiuchi voted against the decision to control the yield curve. The bank also maintains economic valuation unchanged, saying that the economy continues to recover at a moderate pace.

The planned rate of asset purchases will also remain unchanged at 80 trillion yen per year.