Bank of Japan kept interest rates unchanged in line with expectations.
The Bank of Japan (BoJ) did not change the interest rate.
After the BOJ’s interest rate meeting, the statement stated that it was decided to keep the benchmark interest rate at -0.10 percent. The market expectation was that interest rates would not change.
The BOJ last lowered the interest rate from 0.0-0.10 percent to today’s minus level in January 2016.
The BOJ also left its 10-year return target at 0.0 percent.
While raising its expectations for core inflation, the Bank lowered its growth forecasts for this year and next.
Accordingly, the core consumer price expectation has increased from 2.3 percent to 2.9 percent for the 2022 fiscal year, from 1.4 percent to 1.6 percent for the 2023 fiscal year, and 1.3 percent for the 2024 fiscal year. It increased from 1.6 percent.
Growth expectations are revised from 2.4 percent to 2.0 percent this year, from 2.0 percent to 1.9 percent next year, and from 1.3 percent to 1.5 percent for 2024. was done.
