Financial News: BoJ Keeps Monetary Policy Unchanged

BoJ Keeps Monetary Policy Unchanged

04/26/2024 - 01:16:00 (RTTNews)

(RTTNews) - The Bank of Japan left its key interest rate unchanged and raised its inflation outlook on Friday.

The policy board unanimously decided to hold the uncollateralized overnight call rate to remain at around 0 to 0.1 percent.

The board also voted to conduct its bond purchase programme in line with the decisions made at the March meeting.

In the Outlook for Economic Activity and Prices report, the bank said inflation is set to rise through fiscal 2025 driven by the rise in crude oil prices and waning of the effects of government's economic measures.

The bank today upgraded its inflation outlook for the fiscal 2024 to 2.8 percent from 2.4 percent. Likewise, the projection for the fiscal 2025 was lifted to 1.9 percent from 1.8 percent. Inflation is seen at 1.9 percent in the fiscal 2026.

At the same time, the bank lowered its growth projection for the fiscal 2024 to 0.8 percent from 1.2 percent. The economy is forecast to expand 1.0 percent in both the fiscal 2025 and 2026. The forecast for the fiscal 2025 was thus retained from the previous projection.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Australia Interest Rate Decision Due On Tuesday (01 hr(s), 14 min(s), 42 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting and then announ ...Full Story»

Brazil Services Growth Remains Strong In April (09 hr(s), 49 min(s), 42 sec(s) ago)
(RTTNews) - Brazil's service sector continued to expand at a solid pace in April amid sustaine ...Full Story»

Eurozone Private Sector Growth Accelerates In April (10 hr(s), 04 min(s), 42 sec(s) ago)
(RTTNews) - The euro area private sector growth accelerated to an 11-month high in April driven by ...Full Story»

Spain Unemployment Lowest Since 2008 (11 hr(s), 03 min(s), 42 sec(s) ago)
(RTTNews) - Spain's unemployment declined sharply in April to the lowest level since September ...Full Story»

South African Private Sector Logs Marginal Expansion (11 hr(s), 30 min(s), 42 sec(s) ago)
(RTTNews) - South Africa's private sector activity signalled a moderate expansion in April as ...Full Story»

Eurozone Sentix Investor Confidence Rises For 7 Straight Months (12 hr(s), 20 min(s), 42 sec(s) ago)
(RTTNews) - Eurozone investor confidence improved for the seventh straight month in May to hit the ...Full Story»

Eurozone Producer Prices Continue To Fall Sharply (12 hr(s), 33 min(s), 42 sec(s) ago)
(RTTNews) - Eurozone producer prices logged a further steep decline in March amid a continued down ...Full Story»

Hungary Trade Surplus Grows In March (14 hr(s), 30 min(s), 42 sec(s) ago)
(RTTNews) - Hungary's foreign trade surplus increased in March from a year ago, as imports fel ...Full Story»