Economy

BOJ Keeps Interest Rates Steady, Roughly Maintains Price Forecasts

Yomiuri Shimbun file photo
The Bank of Japan

Reuters

12:17 JST, October 31, 2024

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, signaling 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.

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. to explain the policy decision.