But the bank has raised its price hike expectations until 2024 and warned that risks are mounting, indicating inflationary pressures will be stronger in the coming period.
he explained it interest rates It will remain at or below current levels over the next period.
withdraw JPY By 0.4 percent against the dollar to reach 146.90 per dollar in the wake of the decision, before reversing the trend and rising 0.13 percent to reach 146.10 yen per dollar.
Japan’s benchmark 10-year bond yield fell to its lowest level in nearly 4 weeks.
The chief economist of the company "Nomura Securities"Kiyohe Morita, in the bank Japan It will remain different in its monetary policy from trends been united AndEurope hardening.
He added that the bank will not turn up interest rates At least until the fiscal year that will begin next April 2024, confirming that the rate of inflation is the lowest in Western economies.
On Friday, the Bank of Japan raised its core inflation forecast to 2.9% for the year ending March 2023, from its previous July estimate of 2.3%, which means continuing to exceed its inflation targets. during the year by 2%.
The bank noted that companies are passing on the rising cost of raw materials to consumers.
Core inflation rate in September rose 3 percent year-on-year, the highest level in eight years, surpassing the bank’s target level of 2 percent for the sixth consecutive month.
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The decisions have arrived Bank of JapanFriday was in line with expectations, keeping negative interest rates unchanged at -0.10%.
But the bank has raised its expectations for price hikes through 2024 and warned that risks are mounting, indicating inflationary pressures will be stronger in the coming period.
he explained it interest rates It will remain at or below current levels over the next period.
withdraw JPY By 0.4 percent against the dollar to reach 146.90 per dollar in the wake of the decision, before reversing the trend and rising 0.13 percent to reach 146.10 yen per dollar.
Japan’s benchmark 10-year bond yield fell to its lowest level in nearly 4 weeks.
Nomura Securities chief economist Kiyohe Morita said: Japan It will remain different in its monetary policy from trends been united AndEurope hardening.
He added that the bank will not turn up interest rates At least until the fiscal year that will begin next April 2024, confirming that the rate of inflation is the lowest in Western economies.
On Friday, the Bank of Japan raised its core inflation forecast to 2.9% for the year ending March 2023, from its previous July estimate of 2.3%, which means continuing to exceed its inflation targets. during the year by 2%.
The bank noted that companies are passing on the rising cost of raw materials to consumers.
Core inflation rate in September rose 3 percent year-on-year, the highest level in eight years, surpassing the bank’s target level of 2 percent for the sixth consecutive month.
