Forex
BOJ Holds Firm on Interest Rates, Eyes Gradual Tightening
The Bank of Japan (BOJ) made its decision on interest rates today, voting 8-1 to maintain the policy rate at 1.00%. This move comes after a 25 basis point hike in June.
No significant changes were presented in the BOJ's Outlook Report, which suggests that the market's default expectation of a gradual tightening cycle remains intact.
The next potential interest rate hike is expected to occur in October, according to market expectations. However, comments from Governor Ueda hint at a possible move as early as September.