BOJ Stands Pat: What’s Behind the Decision to Freeze Interest Rates
Bank of Japan to Hold Press Conference to Explain Decision to Keep Interest Rates Unchanged
- Time: 2024-09-20 11:04
- News Citation: Interview, Reuters
- Writing editor: Wu Ningkang
The Bank of Japan (BOJ, the central bank) today (20th) decided to keep interest rates unchanged and maintained its view that the Japanese economy will continue to recover moderately.
As widely expected, the Bank of Japan voted unanimously to keep its overnight lending rate target at 0.25%.
Bank of Japan Governor Kazuo Ueda will hold a press conference at 3:30pm (2:30pm Taiwan time) to explain the decision.
The Bank of Japan announced the end of its negative interest rate policy in March, raising interest rates for the first time since February 2007. In July, it raised the policy interest rate from 0% to 0.1% to around 0.25%, the December 2008 level.