(Update) 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, amid uncertainties over foreign economies and financial markets.
   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.
   The central bank "needs to pay due attention to the future course of overseas economies, particularly the U.S. economy, and developments in financial and capital markets," said the bank's latest quarterly Outlook for Economic Activity and Prices report, released Thursday.
   In the report, the BOJ revised down its growth forecast for the country's core consumer price index for fiscal 2025 to 1.9 pct from 2.1 pct in the previous projection announced in July, reflecting falls in crude oil and other resource prices.
   Meanwhile, the BOJ kept its growth forecast for the core index, which excludes often volatile fresh food prices, unchanged at 2.5 pct for fiscal 2024 and 1.9 pct for fiscal 2026, maintaining its view that its 2 pct inflation target will be achieved in a sustainable and stable way over the period through fiscal 2026.

(2024/10/31-15:08)

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