Bank of Japan holds rates and increases inflation forecast
MPC predicts inflation will reach 2.3% this fiscal year but then fall back below target
The Bank of Japan maintained its ultra-low interest rates today (July 17), even as it predicted higher inflation for the coming year.
In a widely expected move, the BoJ’s monetary policy voted by eight to one to keep its -0.1% target for short-term rates. It also kept its target for 10-year government bond yields at around 0%.
The BoJ “will not hesitate to take additional easing measures”, it said in a statement. It added that it expects short-term and long-term policy interest rates to remain
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