At its Monetary Policy Meeting held on 30 and 31 July, the Bank of Japan maintained its policy of leaving the target for the uncollateralized overnight call rate at around 1.0%. Governor Kazuo Ueda (植田和男) returned for the meeting, and all 9 Policy Board members participated in the vote.
At its Monetary Policy Meeting held on 30 and 31 July, the Bank of Japan decided to maintain its policy of guiding the uncollateralized overnight call rate to “around 1.0%.” Following a reassessment after the previous meeting, the Bank indicated that it had determined that the current interest-rate level should be maintained.
Governor Kazuo Ueda (植田和男) returned for the meeting, and all 9 Policy Board members participated in the vote. Policy Board member Tōichirō Asada (浅田統一郎), who had opposed an additional rate hike to 1.0% at the previous meeting, changed from opposing it to supporting it.
The decision was viewed as an extension of the discussions at the previous meeting, indicating continued support for maintaining monetary easing. No specific additional policy changes have been reported, but the Bank confirmed that monetary easing would continue through maintaining the current interest-rate target.