Tuesday, the Bank of Japan retained its key interest rate and decided to expand the range of eligible collateral for its provision of credit to facilitate money market operations.
The Policy Board of the central bank unanimously decided to hold the uncollateralized overnight call rate at 0.1%. The decision came in line with economists' expectations.
The BoJ's decision to expand the range of eligible collateral was made with an intention to ensure financial market stability. The central bank said it will accept loans on deeds to municipal governments as eligible collateral.
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