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The Bank of Japan expectedly retained its ultra-loose monetary policy at its first meeting this year.

The BOJ decided unanimously to keep interest rates at -0.1%, and stuck to its yield curve control policy that keeps the upper limit for 10-year Japanese government bond yield at 1% as a reference, according to a policy statement released Tuesday.

All the economists surveyed by Reuters expected the Japanese central bank to maintain its negative rate policy this month, this makes the BOJ the world’s only central bank with negative rates.

Governor Kazuo Ueda also stayed relatively dovish in comments made in a December speech.

This is a developing story. Please check back for more updates.

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