Bank of Japan keeps interest rates unchanged

Unanimous vote

The Bank of Japan has decided unanimously to keep interest rates steady at 0.25%.

The decision today (31 October) followed a similar move in September, when Japanese central bank policymakers kept the uncollateralised overnight call rate unchanged, citing "high uncertainties" surrounding Japan's economic activity and prices. In a separate economic outlook report published alongside the interest rate decision, the BoJ argued that the country's economy will continue to expand at a pace above its potential growth rate, with the consumer price index (excluding fresh food) likely to hover at around 2.5% for the 2024 fiscal year. Japan's inflation is expected to further ...