BOJ keeps interest rates steady at 0.25%

Anadolu, Philippine News Agency

The bank said annual inflation is likely to be at 2.5 percent for fiscal 2024 and then about 2 percent for fiscal 2025 and 2026. (File Photo: ayumi kubo/Unsplash)

ISTANBUL – The Bank of Japan (BOJ) on Thursday decided to keep its policy interest rate steady at 0.25 percent, according to an official statement.

The Japanese economy is likely to keep growing at a pace above its potential growth rate, it said.

The bank said annual inflation is likely to be at 2.5 percent for fiscal 2024 and then about 2 percent for fiscal 2025 and 2026.

“Concerning risks to the outlook, there remain high uncertainties surrounding Japan’s economic activity and prices, including developments in overseas economic activity and prices, developments in commodity prices, and domestic firms’ wage- and price-setting behavior,” it added.

The bank had been keeping the rate at minus 0.1 percent since 2015 but decided to increase the rate to 0.1 percent at its March meeting and then raised it to 0.25 percent in July, its highest level since end-2008. (Anadolu)