At its October policy meeting, the BOJ maintained by majority vote its policy of leaving the policy rate at approximately 1.25%. The Outlook Report indicated that underlying inflation had reached 2%, and the BOJ reportedly plans to accelerate ETF sales at twice the previous pace.
The Bank of Japan announced that at its October Monetary Policy Meeting it had maintained by majority vote its policy of guiding the uncollateralized overnight call rate, the policy rate, to approximately 1.25%. In the Outlook Report released at the same time, it said that the underlying rate of price increases was broadly consistent with the 2% target and was expected to remain at a similar level.
Regarding the price outlook in the Outlook Report, Policy Board member Takada Hajime (高田 創) reportedly voted against the decision, calling for consecutive rate hikes from the previous meeting. A proposal to raise the rate to approximately 1.5% was rejected by a majority vote.
In the context of the price outlook, reports indicated that the 2027 fiscal-year forecast had been revised from the previous forecast against a backdrop of higher crude oil prices due to the situation in the Middle East and stronger AI demand.
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