Bank of Japan holds rates steady even as inflation ticks up
Consumer prices are rising more than 2% a year, a rate that the bank has said is its target.
On Friday, the Bank of Japan decided to maintain its key interest rate at 1.25% despite rising inflation. This decision comes after the central bank's two-day policy meeting, during which it concluded that the economy's underlying inflation had reached its 2% target. Japan's inflation rate, which had been above 2% for 45 consecutive months, remained above the central bank's target in September, with consumer prices rising 2.1% year over year.
The Bank of Japan's long-term goal is to anchor inflation at the 2% level, a target it first introduced in 2013 under then-Governor Haruhiko Kuroda.
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- Bank of Japan says inflation hit 2% target after 13 years thejakartapost.com
