$JPINTR -Japan's Interest Rates (October/2024)
JPINTR 0.25%October/2024
source: Bank of Japan
- The Bank of Japan (BoJ) unanimously maintained its key short-term interest rate at around 0.25% during its October meeting, keeping it at the highest level since 2008 and matching market estimates.
Thursday's decision came amid shifting political lansdscape following Japan's election and ahead of the US presidential election.
In a quarterly outlook, the BoJ held its forecast that core inflation to reach 2.5% in FY 2024, with inflation expected to be around 1.9% for both FY 2025 and FY 2026.
Regarding the GDP, the central bank retained its 2024 growth forecast at 0.6%.
Additionally, it forecasts growth of 1.1% for FY 2025 and 1.0% for FY 2026.
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