BoJ Maintains Policy Rate Amid Gradual Tightening Cycle
The Bank of Japan (BoJ) has maintained its policy rate at 1.00%, following an 8-1 vote. This decision comes after a 25bp hike in June, with no material changes to forecasts in the Outlook Report.
No surprises were present in today's BoJ meeting, where only Hajime Takata voted in favor of a consecutive rate hike, repeating his stance from January. The market remains on a gradual tightening cycle, with potential for an October hike.