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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by Renju Jaya
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