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September 20, 2024BANK OF JAPAN MONETARY POLICY On September 20, 2024, the Policy Board of the Bank of Japan decided to maintain their uncollateralized overnight call rate around 0.25%.
Japan's economy has recovered moderately. Moderate growth in overseas economies has supported economic growth, to some extent, but exports and industrial production has remained flat. Business fixed investments improved moderately with improvements in corporate profits. There have been broad-based increases in wages. Consumer price index (all items less fresh food) has been in the range of 2.5%-3.0% as service prices have continued to rise reflecting wage increases. Expectations of inflation have risen moderately.
With the price stability target of 2%, it will conduct monetary policy as appropriate, in response to developments in economic activity and prices as well as financial conditions, from the perspective of sustainable and stable achievement of the target.
The Bank will release their next monetary policy statement on October 31, 2024.
Source: Bank of Japan, Statement on Monetary Policy
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