BOJ Holds Rates Steady at 1.25%, Governor Ueda Signals Further Hikes Ahead
The Bank of Japan $BOJ kept its policy rate at 1.25%—a 31-year high—on Friday, with Governor Ueda reaffirming the bank's commitment to rate increases in response to macroeconomic developments. Ueda stated that underlying CPI inflation is at levels consistent with the 2% price stability target and expected to remain there.
The yen extended gains against the dollar following the decision. The RBA is expected to raise its cash rate to 4.85% on November 3, with 30 of 32 economists forecasting a hike, while Finland reported September GDP growth of 2.0% year-on-year.
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