BOJ Holds Rates Steady as Iran Conflict Clouds Inflation Outlook
The Bank of Japan kept its policy rate unchanged Thursday as the Middle East conflict clouds the outlook for inflation.
The BOJ left its benchmark interest rate untouched at 0.75% at the conclusion of a two-day gathering, according to a statement. The outcome matched the expectations of all 51 economists surveyed by Bloomberg.
BOJ Governor Kazuo Ueda will hold a press briefing later Thursday, usually convened at 3:30 p.m. Tokyo time, to elaborate on the decision and outline his view on the path for interest rates. Currency traders will be on guard, as his careful explanations for holding policy steady have in the past often pressured the yen lower.
Source : Bloomberg.com