BOJ to raise rates with eye on Iran war fallout, central bank official says
The Bank of Japan has kept its policy rate unchanged at 0.75% due to uncertainty surrounding the Middle East conflict. The central bank plans to raise borrowing costs if its price forecast materializes, as it monitors the situation and its potential impact on inflation and the economy.
The Bank of Japan left its benchmark interest rate unchanged at 0.75%. The decision was made due to uncertainty surrounding the Middle East conflict. The central bank plans to raise borrowing costs if its price forecast materializes. The war in Iran is putting pressure on the BOJ, with rapidly soaring oil prices poised to fuel inflation. Japan bond yields rose across all tenors, and the Nikkei 225 Stock Average fell 3.4% for the day. The BOJ added the Middle East to its list of risk factors without altering its inflation outlook.
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