Financial News: Bank Of Japan Keeps Rate Unchanged As Expected

Bank Of Japan Keeps Rate Unchanged As Expected

09/20/2024 - 00:42:00 (RTTNews)

(RTTNews) - The Bank of Japan maintained its benchmark rate unchanged as widely expected on Friday. In a unanimous vote, the Policy Board decided to maintain the uncollateralized overnight call rate to remain at around 0.25 percent.

The BoJ had ended its negative interest rate policy in March.

In the statement, the BoJ said the economy has recovered moderately, although some weakness has been in part.

Capital Economics' economist Marcel Thieliant said the BoJ will hike its policy rate once more by a quarter point at its October meeting.

This week, the US Federal Reserve slashed its benchmark rate by a more-than-expected half a percentage point, which was the first reduction in over four years. On Thursday, the Bank of England maintained its bank rate at 5.00 percent after a quarter-point reduction in August.

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