Japan’s Central Bank Holds Steady on Interest Rates, Adjusts Economic Growth Forecasts

Share This Article:

Tokyo: The Bank of Japan (BOJ) left its benchmark interest rate unchanged at 0.75 percent after concluding its two-day policy meeting on Friday. The decision, widely expected, came after the central bank raised its key rate at its December meeting from 0.5 percent to 0.75 percent, the highest level in 30 years.According to Namibia Press Agency, the BOJ also released the latest Outlook for Economic Activity and Prices, revising the forecasts for gross domestic product growth in fiscal 2025 and fiscal 2026 upward. Meanwhile, the quarterly report said consumer prices, excluding volatile fresh food, in the current fiscal year through March will rise 2.7 percent. In fiscal 2026, the figure is expected to be 1.9 percent, while it is 2 percent for fiscal 2027, which ends March 2028.