Bank of Japan Has Kept Interest Rate at -0.1%
As expected, the Bank of Japan left its monetary policy unchanged in July. The Bank of Japan left the interest rate at the level of -0.1% and retained the program of buying assets unchanged.
The Bank of Japan also pushed back the forecast to achieve a target inflation rate of 2% for the sixth time under the current leadership. According to the Central Bank, inflation will reach 2% around 2019 fiscal year. Earlier, the Bank of Japan expected that inflation would reach the target level around 2018 fiscal year.
At the same time, the Bank of Japan increased its assessment of the economy. GDP is likely to be +1.8% in the current fiscal year and +1.4% in the 2018 financial year.