Bank of Japan adopts negative interest rate policy

In a move that was signaled by the Nikkei business daily minutes ahead of the decision, the BOJ said it will apply a rate of negative 0.1 percent to excess reserves that financial institutional place at the bank and introduce a three-tier system on rates.

The Bank of Japan ramped up its aggressive stimulus campaign on Friday, adding negative interest rates on central bank deposits to its massive asset-buying program, stunning financial markets that expected no action or a moderate increase in asset purchases.

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