TOKYO — The Bank of Japan maintained ultralow interest rates on Friday, confirming that it won’t join the Federal Reserve and other major global central banks in tightening monetary policy.
The Japanese central bank kept its target for short-term interest rates at minus 0.1% and its target for the 10-year Japanese government-bond yield at around zero.
Traders have driven down the yen this year because of the widening interest-rate differential between Japan and the U.S. Following Friday’s move, the yen JPYUSD, -1.31% fell to 134.25 against the dollar from around 133.30 before the decision.