BOJ keeps rates steady, to decide on bond buying cuts at next meeting
Investing.com-- The Bank of Japan kept interest rates steady as widely expected on Friday, and said it will only decide on how to reduce its bond purchases at its next meeting.The central bank also announced no near-term changes to its bond buying activities, somewhat disappointing market expectations for an immediate change. Instead, the BOJ said it will meet with market participants and present a plan to reduce its bond purchases at its next meeting in end-July.
The BOJ’s decision to keep bond purchases unchanged in the near-term comes amid recent weakness in the Japanese economy, which shrank more than expected in the first quarter. The BOJ stuck to its outlook that inflation will pick up in the coming year, and that it saw a “virtuous cycle” between wages and prices intensifying this year.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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