Economic news

BOJ keeps interest rates steady, roughly maintains price forecasts

2024.10.30 23:44

TOKYO (Reuters) – The Bank of Japan kept interest rates steady on Thursday and roughly maintained its forecast that inflation will hover near its 2% inflation target in coming years, signalling its readiness to continue rolling back its massive monetary stimulus.

As widely expected, the nine-member board decided to keep the BOJ’s short-term policy rate unchanged at 0.25% by a unanimous vote.

© Reuters. People walk in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/ File Photo

“The BOJ needs to pay due attention to the future course of overseas economies, particularly the U.S. economy, and developments in financial markets,” the BOJ said in a quarterly outlook report.

BOJ Governor Kazuo Ueda is expected to hold a press conference at 3:30 p.m. (0630 GMT) to explain the policy decision.



Source link

Related Articles

Back to top button