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BOJ Upholds Benchmark Interest Rate at 0.5%, In Line
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The Bank of Japan (BOJ) voted 7 to 2 to keep the interest rate unchanged at 0.5%, in line. The central bank stated that Japan's economic growth is expected to be moderate, and core inflation excluding fresh food is projected to be below 2% by the first half of FY2026. In wake of economic growth leading to increased labor shortages, however, both underlying and core inflation are expected to gradually ascend. The BOJ raised its economic growth forecast for the current fiscal year from 0.6% to 0.7%, and maintained forecasts for the next two fiscal years at 0.7% and 1%, respectively. As for inflation, the core inflation forecast for the current fiscal year remained at 2.7%, and for the next two fiscal years, it is maintained at 1.8% and 2%, respectively. Following the announcement of the interest rate decision, the yen was soft, last down 0.2% to 152.97 against the US dollar. AASTOCKS Financial News Website: www.aastocks.com |
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