Economic Buzz: Bank of Japan keeps interest rate unchanged at 1.0%

The Bank of Japan (BoJ) announced that it will maintain its short-term interest rate target at 1.0%, in line with market expectations.

The board approved the decision in an 8-1 vote, with member Hajime Takata proposing an increase to 1.25%.

The central bank said underlying inflation was nearing its 2% target and repeated that it would raise rates if economic, price and financial conditions supported further tightening.

Powered by Commodity Insights