Bank of Japan holds rates and increases inflation forecast

The Bank of Japan

The Bank of Japan maintained its ultra-low interest rates today (July 17), even as it predicted higher inflation for the coming year.

In a widely expected move, the BoJ’s monetary policy voted by eight to one to keep its -0.1% target for short-term rates. It also kept its target for 10-year government bond yields at around 0%.

The BoJ “will not hesitate to take additional easing measures”, it said in a statement. It added that it expects short-term and long-term policy interest rates to remain

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