By Megumi Fujikawa
TOKYO--The Bank of Japan kept its interest-rate target unchanged Friday, a month after it made its first rate increase in 17 years.
The Japanese central bank maintained its target for the overnight call rate at a range of 0% to 0.1%.
At its previous meeting in March, the bank decided to end most of its unconventional easing measures, including negative interest rates and control over the 10-year Japanese government bond yield. It said it was more confident about achieving stable 2% inflation thanks to healthy wage growth recently.
In contrast to the Federal Reserve and European Central Bank, which are expected to begin cutting rates as soon as this year, market watchers in Japan are debating when--or even if--the BOJ might make further rate increases.
In its quarterly outlook released Friday, the BOJ expressed the view that inflation is likely to stick around the bank's 2% target over the next three years.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
04-25-24 2341ET
