Tokyo, July 27 (Jiji Press)–The Bank of Japan is likely to hold interest rates steady when it meets on Thursday and Friday to see the effect of its recent increase for the time being. The central bank last month raised its policy rate to a 31-year high of 1 pct. Some BOJ officials say it is desirable to raise rates again at an early date so that the central bank will not fall behind the curve in fighting inflation amid rising producer prices. BOJ policymakers are expected to discuss raising their outlook for Japan’s economic growth for fiscal 2026, which ends next March, from 0.5 pct. Despite lingering energy supply concerns stemming from the conflict in the Middle East, downside risks to the economy, such as production cutbacks, have diminished due to progress in procurement from alternative sources. The BOJ may slightly lower its inflation forecast for fiscal 2026 from 2.8 pct given the impact of government subsidies for electricity and gas bills. END [Copyright The Jiji Press, Ltd.]
BOJ Likely to Hold Interest Rates Steady This Week
Related Posts
Japan Panel Backs Liability for Unauthorized AI Use of Voices
Tokyo, July 27 (Jiji Press)–An expert committee of Japan’s Justice Ministry broadly approved a draft report Monday on civil liability for the unauthorized use of the voices of famous individuals through generative artificial intelligence. The report said that voices would be subject
Kumamoto Pref. Also Ordered to Pay Damages over 1985 Murder Case
Tokyo, July 27 (Jiji Press)–Fukuoka High Court on Monday ordered the prefectural government of Kumamoto, southwestern Japan, to pay damages jointly with the Japanese government over the wrongful conviction in a 1985 murder case in Kumamoto. Presiding Judge Takeshi Okada overturned a
