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2025-07-31 11:20:35
[The Bank of Japan softened its statement on trade uncertainty but did not clearly hint at the timing of rate hikes] The Bank of Japan kept interest rates unchanged, which was in line with market expectations. In its quarterly economic outlook report, the Bank of Japan raised its median forecast for core inflation for this fiscal year, mainly reflecting the continued pressure of rising food prices. At the same time, the central bank also slightly raised its inflation forecast for fiscal years 2026 and 2027, and slightly raised its forecast for economic growth for this fiscal year. Earlier, the Federal Reserve also announced that it would maintain interest rates unchanged, and Chairman Powell's speech lowered market expectations for a rate cut in September. The policy direction of major central banks around the world has once again become the focus. The decision-makers of the Bank of Japan did not clearly hint at the timetable for future interest rate hikes at this meeting. Officials believe that it still takes time to observe how US tariffs will affect the Japanese economy and the global trade pattern. However, the Bank of Japan softened its description of trade uncertainty in the summary of the outlook report and reiterated its intention to raise interest rates if conditions permit.
