BOJ October 30 / 31 Monetary Policy Board meeting decision - no extension of the cap to 1.5% but instead formalised the 1% cap. Keeps short-term interest rate target at -0.1% Keeps 10-year JGB yield target around 0% Widens reference range to 1.0% point up and down each around its 10-year JGB yield target vs previous 0.5% point Flexibly increase JGB buying, fixed-rate operations and collateral fund-supply operations Changes language around 1.0% 10-year JGB yield cap Decides to keep yield target but make 1% a reference cap Will guide market operations nimbly Will regard upper bound of 1% for 10-year JGB yield as reference in its market ops Will determine offer rate for fixed-rate JGB buying o
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