-
Bank of Japan holds rates steady amid signs of modest GDP growth
The BoJ unanimously decided to leave its target rate unchanged at 0.25%. In our view, Governor Kazuo Ueda's comments were leaning towards hawkish. He didn't hint at the next rate hike or completely rule out a hike in December. As expected, he reiterated that the BoJ will continue to raise the policy rate if the inflation outlook is realised. Moreover, his overall tone on growth and inflation remained positive compared to the previous meeting. On the US economy, he welcomes the fact that the latest US data has been robust and that the risks surrounding the US economy are lower than before, but he remains cautious. His ... (full story)