October 30, 2019 / 10:04 PM / 22 days ago

BOJ to mull modifying forward guidance to signal future rate cut chance: Nikkei

FILE PHOTO : A security guard walks past in front of the Bank of Japan headquarters in Tokyo, Japan January 23, 2019. REUTERS/Issei Kato

TOKYO (Reuters) - The Bank of Japan is considering modifying its forward guidance at its policy-setting meeting on Thursday to more clearly signal the future chance of interest rate cuts, the Nikkei newspaper reported.

Under its current forward guidance, a pledge central banks make on future monetary policy, the BOJ commits to keeping present ultra-low interest rates “for an extended period, at least until around the spring of 2020.”

The BOJ’s nine-member board will discuss changing the language to more clearly signal the central bank’s readiness to cut rates in the future, the Nikkei said on Thursday, without citing sources.

Reporting by Leika Kihara; Editing by Chris Reese

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