Financial News: Bank Of Japan Keeps Policy Rate Unchanged

Bank Of Japan Keeps Policy Rate Unchanged

12/18/2024 - 23:17:00 (RTTNews)

(RTTNews) - The Bank of Japan left its key interest rates unchanged on Thursday as policymakers were concerned about risks related to economic activity and prices.

At the policy board meeting, members voted 8-1 to maintain the uncollateralized overnight call rate to remain at around 0.25 percent. This was the highest since late 2008.

The BoJ had ended its negative interest rate policy in March and last lifted the interest rate in July to 0.25 percent. So far the BoJ has tightened the policy twice this year.

The board said it is necessary to pay due attention to developments in financial and foreign exchange markets and their impact on Japan's economic activity and prices.

"In particular, with firms' behavior shifting more toward raising wages and prices recently, exchange rate developments are, compared to the past, more likely to affect price," the bank said.

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