It appears that no significant changes were implemented and central banks voted to maintain the existing monetary policies to support the economic recovery during the coronavirus crisis.
On Wednesday, January 20, the Bank of Canada released its Monetary Policy Report.
According to the official release: "The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week."
On Thursday, January 21, the Bank of Japan issued the Monetary Policy Statement. The Bank made various monetary policy decisions:
More detailed information is provided at the Japanese central bank's official website..
Initial reaction on the market:
On Thursday, January 21, the European Central Bank revealed its plans on monetary policy.
According to the official release:
On Wednesday, January 27, the Federal Reserve issued the FOMC Statement.
The US policymakers claimed that they expected to maintain an accommodative stance of monetary policy until the maximum employment and inflation rate of 2% over the longer run would be achieved. Thus, the Federal Open Market Committee decided to keep the target range for the federal funds rate at 0 to 0.25%.
Additionally, the Committee announced the Federal Reserve would continue to increase its holdings of Treasury securities by at least $80B per month and of agency mortgage-backed securities by at least $40B per month until substantial futher progress had been made towards the Committee's maximum employment and price stability goals.