TOKYO – The Bank of Japan decided to keep its policy rate unchanged on Friday amid continued volatility in financial markets following a rate hike following its last meeting.
The BOJ kept the unsecured overnight call rate at 0.25%. The decision to keep the exchange rate unchanged was expected by everyone. A September 9-11 survey of 27 BOJ watchers by Nikkei affiliate QUICK found that none predicted a policy change in September. Many saw the next rate hike in December or January.