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Will the Bank of Japan lower interest rates from 0.25% by the end of 2024?
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Official announcements from the Bank of Japan or reputable financial news sources
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Bank of Japan Keeps Interest Rates Unchanged at 0.25%, Highest Since 2008
Sep 20, 2024, 02:56 AM
The Bank of Japan (BOJ) has decided to keep its benchmark interest rate unchanged at 0.25%, the highest rate since 2008. This decision was made unanimously at the conclusion of a two-day board meeting. The BOJ is signaling confidence in potential rate hikes in the coming months, despite maintaining the current rate. The yield on 30-year Japanese Government Bonds (JGB) is down 1 basis point to 2.045%, while the yield on 2-year JGBs has risen by 0.5 basis points to 0.385% following the policy decision. The BOJ's cautious approach comes as it navigates the task of normalizing monetary policy after a long period of ultra-easy measures. Core CPI in Japan has increased by 2.8% year-over-year. Additionally, the BOJ maintained its short-term interest target and overnight call rate at 0.25%.
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