Japan central bank holds rates steady, raises inflation outlook
At the Bank of Japan's latest board meeting on July 31, Gov. Kazuo Ueda said that the trade agreement between Tokyo and Washington was a "big step forward" but that tariff impacts remain uncertain.
TOKYO -- The Bank of Japan on Thursday kept its key interest rate unchanged and revised its inflation outlook upward, with Gov. Kazuo Ueda signaling that the bank needs more time to decipher the impact of U.S. tariffs on the economy, inflation and wages.
Following a two-day board meeting, the central bank held its policy rate, an uncollateralized overnight call rate, at 0.5%. This marks the fourth consecutive meeting in which the BOJ has kept rates unchanged. Its last hike was in January.
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