BoJ sticks to upbeat message despite dissent

Japanese markets and currency

The Bank of Japan kept its monetary policy steady today (September 19), maintaining its upbeat outlook for inflation despite continued disappointment in the data.

The BoJ’s policy board voted 7–2 to keep the interest rate at –0.1%, according to the monetary policy statement. The annual target for purchases of Japanese government bonds (JGBs) remains at ¥80 trillion ($713 billion) and exchange-traded funds at ¥6 trillion.

Annual CPI inflation was 0.9% in July, and 0.8% excluding fresh food

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