The Bank of Japan (BOJ) maintained its benchmark interest rate at 0.25% on Thursday, Oct. 31, 2024, surprising economists who expected a hike. The decision, made by an 8-1 vote, reflects the BOJ’s caution in evaluating financial and foreign market impacts on Japan’s economy. Despite a weak yen and a slight decline in the Nikkei 225, recent data shows inflation at 2.3% and improved business sentiment in the latest BOJ Tankan survey. Analysts anticipate rate hikes to resume soon, with expectations of potential adjustments in January, contingent on upcoming economic forecasts.
