BoJ decides to hold rates due to unstable political situation

While the BoJ reiterated its intention to raise rates when its inflation outlook is realised, it also cited the high level of uncertainties ahead. — Bloomberg

TOKYO: The Bank of Japan (BoJ) kept its benchmark interest rate unchanged after uncertainties increased over the outlook for the economy and the stability of the government after the ruling coalition’s worst electoral result since 2009.

Governor Kazuo Ueda and his fellow board members maintained the unsecured overnight call rate at around 0.25%, according to its statement yesterday.