Bank of Japan Holds Steady Amid Global Economic Uncertainty

The Bank of Japan has maintained its interest rates and reduced its growth forecasts due to the negative impact on global demand caused by U.S. tariffs. The decision, which was anticipated, reflects the challenges faced by Japan's economy, with Governor Kazuo Ueda scheduled to address the public regarding this matter.

The Bank of Japan held its interest rates steady and reduced its growth forecast on Thursday. The decision reflects concern over global economic pressures, particularly from U.S. tariffs, which are affecting Japan's fragile recovery.

The board of the Bank of Japan voted unanimously to keep the short-term policy rate unchanged at 0.5%, aligning with market expectations.

BOJ Governor Kazuo Ueda is set to explain these policy decisions in a press conference scheduled for 3:30 p.m. (0630 GMT) today.

(With inputs from agencies.)