The Bank of Japan decided at its Monetary Policy Meeting to leave the policy rate unchanged at 1.25%. The decision was made by a vote of 8 in favor and 1 against, maintaining the rate increase made the previous month.
The Bank of Japan decided at its Monetary Policy Meeting, held over two days from the 29th, to leave the policy rate unchanged at 1.25%. The decision was approved by a vote of 8 in favor and 1 against.
At last month's meeting, the Bank judged that surging crude oil prices posed a risk of pushing inflation above its 2% price stability target, and raised the policy rate to 1.25%.
The Bank is expected to adjust the pace of further rate increases based on economic conditions while assessing the effects of its rate hikes to date on the economy.