JAKARTA – The Bank of Japan (BOJ) held its benchmark interest rate at 0.75 percent as Japan’s economy was overshadowed by the Middle East conflict and a spike in crude oil prices. At the same time, growth projections were cut, while core inflation was actually raised.<\/p>\n
As reported by Kyodo News, Tuesday, April 28, the BOJ made the decision at a two-day policy meeting that ended Tuesday.<\/p>\n
In its latest quarterly outlook report, the Bank of Japan expects the economy to grow 0.5 percent in the current fiscal year that starts this month. That is down from the previous projection of 1.0 percent.<\/p>\n
Price pressure is expected to be stronger. Core consumer prices, excluding fresh food prices that are easily up and down, are projected to rise 2.8 percent in fiscal year 2026.<\/p>\n
The estimate was revised up from the January projection of 1.9 percent.<\/p>\n
The BOJ’s decision shows an uneasy position. Interest rates are held, but economic growth is cut. At the same time, core inflation is expected to be higher.<\/p>\n
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language.
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