Japan holds rates, as expected, with two dissenting votes
BoJ governor says there is no ‘preset idea’ on future rate rises after dissenters call for 25bp hike
Japan’s central bank has left its key lending rate unchanged, in a decision that was expected but from which two members of its policy board dissented.
The Bank of Japan said today (October 30) that it would encourage its uncollateralised overnight call rate to remain at around 0.5%, as it has done since January. The two dissenters, Hajime Takata and Naoki Tamura, sought to increase the policy rate to 0.75% but the other five members of the board voted to hold.
Takata and Tamura had also voted for
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