Friday, November 8, 2024
Today’s News

The Bank of Japan Recognises Global Threats and Maintains Stable Interest Rates

In an indication that the circumstances are coming together to raise interest rates once more, the Bank of Japan kept its ultra-low interest rates on Thursday while stating that the dangers associated with the US economy were somewhat abating. The central bank emphasised its determination to continue raising borrowing costs if the economy maintains a mild recovery by projecting inflation to hover around its 2% objective in the upcoming years.

“Wages and prices are moving in accordance with our projections when we look at domestic data. At a press conference, Governor Kazuo Ueda stated, “We’re seeing clouds clear a bit regarding downside risks to the US and overseas economies.”

Ueda’s comments were less dovish than those he made prior to Thursday’s meeting, when he said the BOJ can “afford to spend time” examining the consequences of concerns including unstable financial markets and US economic uncertainty.

We don’t have a defined date for when the next rate hike will occur. When making policy decisions, we will carefully consider the information at hand at each policy meeting and revise our assessment of the state of the economy and prospects,” Ueda stated on Thursday.

At its two-day meeting, the BOJ maintained short-term interest rates at 0.25 percent, as was generally anticipated. This is the first time the BOJ has done so since an unresolved general election, which analysts believe will make efforts to normalise interest rates after years of ultra-easy policy more difficult.

Also Read:

A lavish Property in Fairways Dubai Hills Estate is listed by Dubai Realtor Asma Akram Muhammad for the Current Market Value

Abu Dhabi Introduces a New School Recruitment Policy

INTERVIEW

Press Release

Letest News

Health

Lifestyle

Business

Technology

Friday, November 8, 2024

Entrepreneur Mirror is a platform with a significant focus on business, technology, startups entrepreneurship, leadership, innovation, content creation, prominent business personalities, and many more across the globe. Further, the company publishes interviews, business content, press releases, articles, etc. 

SUBSCRIBE

Copyright © 2024 Entrepreneur Mirror All Right Reserved