Bank of Japan maintains near-zero rates, signals potential rate hikes based on inflation projections.
The Bank of Japan (BOJ) maintained its interest rates near zero and expressed confidence in reaching its 2% inflation target, while hinting at potential rate hikes later this year if new data align with the bank's inflation projections or if inflation surpasses expectations. The BOJ's quarterly outlook report projects gradual increases in core consumer inflation, opening the way for future rate hikes if the 'virtuous circle' remains intact.
April 30, 2024
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