The Bank of Japan (BoJ) kept its policy rate unchanged on Thursday, taking a pause that about half the market had anticipated, according to an online report by The Japan Times dated Dec 19.
Following a two-day policy meeting that ended Thursday, the central bank said that its target rate would remain at 0.25%.
Several media reports over the past week have indicated that the Bank of Japan would hold off.
The Bank of Japan effected first increase of rates in March since 2007, and then raised rates again in July in a surprise jump to the current 0.25%.
The yen touched a one-month low of 155.48 per dollar after the Bank of Japan’s decision to hold rates. The currency is down more than 8% in 2024 against the dollar partly on expectations the bank will go slow in raising ultra-low rates.
Market attention is now shifting toward whether the Japanese central bank will raise interest rates at its next meeting in January, or hold off until March and beyond.
