BOJ Keeps Monetary Policy Unchanged
Tokyo, Oct. 31 (Jiji Press)--The Bank of Japan decided to keep its monetary policy unchanged at a two-day Policy Board meeting that ended Thursday.
The BOJ's nine board members unanimously voted to maintain the policy of guiding the unsecured overnight call rate to around 0.25 pct. The policy rate was raised from the previous range of around zero to 0.1 pct in a decision made in July.
In its latest quarterly Outlook for Economic Activity and Prices report, released Thursday, the BOJ said that the core consumer price index is forecast to rise 2.5 pct in fiscal 2024, unchanged from the previous projection announced in July.
The growth forecast for the core index, which excludes often volatile fresh food prices, was lowered to 1.9 pct from 2.1 pct for fiscal 2025 and kept intact at 1.9 pct for fiscal 2026.
Real gross domestic product is seen growing 0.6 pct in fiscal 2024, unchanged from the previous estimate, 1.1 pct in fiscal 2025, up from 1.0 pct, and 1.0 pct in fiscal 2026, unchanged.
(2024/10/31-12:12)
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