Tokyo October 31 2024: At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to encourage the uncollateralized overnight call rate to remain at around 0.25 percent.
The committee signalled the need to scrutinise global economic developments, highlighting its focus on risks to a fragile domestic recovery in deciding when to next tighten policy.
But the central bank projected inflation to move around its 2% target in coming years, stressing its resolve to keep hiking borrowing costs if the economy sustains a moderate recovery.
