BoJ keeps policy unchanged as yen weakens

Policymakers raise inflation forecasts, saying “virtuous wage-price cycle” is strengthening

Bank of Japan

The Bank of Japan (BoJ) kept its monetary policy unchanged today (April 26), despite the yen’s weakness, but signalled more confidence about meeting its inflation target.

The BoJ’s nine-member policy board unanimously decided to keep its target for short-term rates unchanged at 0–0.1%, a decision widely expected by markets. At its previous meeting in March, the BoJ raised rates for the first time in 17 years, ending its negative rate policy introduced in 2016.

The board also raised its inflation

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