BOJ Set to Hold Steady on Policy Rate

The Bank of Japan (BOJ) is preparing to make a decision on its monetary policy at its meeting concluding July 31. According to expectations, the BOJ will keep its policy interest rate unchanged at around 1.0%.

This move comes as the central bank assesses the effects of last month's rate increase on the economy and prices.

The BOJ is also expected to maintain its broader course of raising interest rates while monitoring the timing of its next move.

Officials will examine upside risks to inflation from higher crude oil prices caused by escalating tensions in the Middle East, as well as the impact of a weaker yen on consumer prices.