The Bank of Japan retained its key interest rate in a split vote on Tuesday and upgraded its inflation outlook citing higher global crude oil prices due to the Iran war, and the policy assessment added to expectations for an interest rate hike in the near-term.
The BoJ policy board, headed by Kazuo Ueda, voted 6-3 to hold the uncollateralized overnight call rate at around 0.75 percent at the end of a two-day meeting. Markets had widely anticipated the Japanese central bank to maintain the rates this time.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.