URGENT: BOJ keeps ultralow rates at policy meeting as expected

Economy

The Bank of Japan maintained ultralow interest rates Tuesday in a widely expected move, with the central bank seeking to confirm that strong wage growth will boost the likelihood of achieving its goal of stable inflation of 2 percent.

The BOJ said at the end of its two-day policy meeting that core consumer prices, excluding volatile fresh food, are now expected to rise 2.4 percent in fiscal 2024 starting April, down from 2.8 percent projected earlier.

The central bank left short-term interest rates at minus 0.1 percent, while allowing 10-year Japanese government bond yields to climb above 1.0 ...

Kyodo News

Bank of Japan Kyodo News