The Bank of Japan formulated its Outlook Report at its Monetary Policy Meeting and determined that the underlying inflation rate had reached 2%. With interest rates left unchanged, it is expected to move into a new phase, after more than 14 years of focusing on containing inflation.
At its Monetary Policy Meeting, the Bank of Japan compiled its latest economic outlook and indicated that the underlying inflation rate had reached the 2% target. After a period in which large-scale monetary easing pushed up prices, the Bank will now shift its focus to containing inflation in order to stabilize it at that level.
The meeting decided to keep the policy rate unchanged and indicated a policy of assessing the impact of the additional rate hike at the previous meeting. Governor Ueda Kazuo (植田 和男) is scheduled to hold a press conference in the afternoon to explain the decision.