BOJ Hints at Possible Future Interest Rate Cut

Politics

Tokyo, Oct. 31 (Jiji Press)--The Bank of Japan signaled the possibility of lowering interest rates further by revising its monetary policy forward guidance Thursday.

Meanwhile, the central bank decided to keep its monetary policy unchanged, on the heels of the U.S. Federal Reserve's overnight rate cut.

The BOJ Policy Board made the decision by a vote of seven to two at a two-day meeting that ended on the day.

In a quarterly report adopted at the meeting, the BOJ board put its median inflation forecast for fiscal 2019 at 0.7 pct, down from the previous estimate of 1.0 pct.

The inflation projection for fiscal 2020 was lowered to 1.1 pct from 1.3 pct, and that for fiscal 2021 to 1.5 pct from 1.6 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press