Bank of Japan ends negative interest rates in historic policy overhaul

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Bank of Japan ends negative interest rates in historic policy overhaul

STORY: Bank of Japan ends negative interest rates in historic policy overhaul SHOOTING TIME: Earlier footage DATELINE: March 19, 2024 LENGTH: 0:00:41 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of Japan 2. various of city views in Tokyo STORYLINE: The Bank of Japan (BOJ) on Tuesday decided to end its negative interest rate policy in its first rate hike in 17 years, marking a major shift away from the long-running monetary easing that Japan has seen over the past decade to put an end to deflation. After a two-day policy meeting, the central bank's policy board decided to guide short-term rate to a range of 0 to 0.1 percent, up a fraction from minus 0.1 to 0 percent, judging that its goal of attaining a stable 2 percent inflation is "in sight." "It came into sight that the price stability target of 2 percent would be achieved in a sustainable and stable manner," the BOJ said in a post-meeting statement. On top of returning to positive rates, the BOJ also decided to scrap it

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