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BOJ keeps interest rates steady, roughly maintains price forecasts

BY Reuters | ECONOMIC | 10/30/24 11:02 PM EDT

TOKYO (Reuters) - The Bank of Japan kept interest rates steady on Thursday and roughly maintained its forecast that inflation will hover near its 2% inflation target in coming years, signalling its readiness to continue rolling back its massive monetary stimulus.

As widely expected, the nine-member board decided to keep the BOJ's short-term policy rate unchanged at 0.25% by a unanimous vote.

"The BOJ needs to pay due attention to the future course of overseas economies, particularly the U.S. economy, and developments in financial markets," the BOJ said in a quarterly outlook report.

BOJ Governor Kazuo Ueda is expected to hold a press conference at 3:30 p.m. (0630 GMT) to explain the policy decision.

(Reporting by Leika Kihara, Makiko Yamazaki, Satoshi Sugiyama and Kantaro Komiya)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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