BOJ debated cutting loan scheme rates in Dec: minutes

Bank of Japan board member Koji Ishida proposed cutting the interest rate for the bank’s fixed-rate market operation and other loan schemes to 0.03 per cent from 0.1 per cent at a policy meeting in December, minutes showed.

Ishida also proposed scrapping the 0.1 per cent interest the central bank pays to financial institutions’ excess reserves parked at the BOJ, arguing that doing so would help to reduce the yen’s appeal as a safe-haven currency, the minutes showed on Friday.

via Business feed http://www.scmp.com/business/economy/article/1135760/boj-debated-cutting-loan-scheme-rates-dec-minutes