Bank of Japan Keeps Interest Rates Unchanged; Iran Conflict Casts Shadow Over Inflation Outlook

MaticHoleFiller · 2026-03-21T01:34:01+00:00

The Bank of Japan maintained its benchmark interest rate at 0.75%, in line with expectations. Governor Ueda Kazuo will deliver remarks later, with markets focused on his views on the interest rate outlook. Following the policy announcement, the yen rose modestly.

MaticHoleFiller

2026-03-21 01:34:01

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Amid the Middle East conflict casting a shadow over inflation prospects, the Bank of Japan kept its policy interest rate unchanged on Thursday.

The policy statement said that after a two-day meeting, the Bank of Japan maintained the benchmark rate at 0.75%. This outcome was in line with economists’ expectations.

Bank of Japan Governor Haruhiko Kuroda will hold a press conference later on Thursday, usually at 3:30 p.m. Tokyo time. He will detail the considerations behind this decision and share his outlook on interest rates. Forex traders will remain cautious, as his past cautious explanations about holding steady often put downward pressure on the yen.

Following the policy announcement, the yen remained strong against the dollar. The yen rose 0.2% to 159.61 per dollar.

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