Bank of Japan Achieves 2% Inflation Target, Holds Policy, Plans Faster Balance Sheet Reduction

The Bank of Japan (BoJ) announced it has met its 2% inflation target and decided to hold its policy rate at 1.25%. The central bank also detailed a plan to accelerate reductions in its balance sheet, speeding up the timeframe for its ETF selloff from 112 years to 43 years. The decision to hold policy was agreed by an 8-1 majority of its board members.