BOJ Stands Pat as Ueda Signals Shift in Monetary Policy

The Bank of Japan is expected to maintain its benchmark interest rate at 1%, the highest in 31 years, according to economists surveyed by Bloomberg. This decision comes after a two-day gathering where policymakers will assess the impact of last month's increase.

With Governor Kazuo Ueda back in the spotlight, investors are looking for signals on when the next interest rate hike might occur. While all 52 economists surveyed forecast the BOJ to hold its benchmark rate steady, some may be waiting to see if Ueda's press conference later today will provide any hints.

The decision not to raise interest rates is seen as a move to gauge the economic impact of last month's increase. As interest rates are now at their highest in 31 years, it will be interesting to see how the economy responds to this change.