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[Alpha Biz= Paul Lee] The Bank of Japan (BOJ), which has been raising interest rates since early last year, has decided to keep its benchmark rate unchanged at around 0.5% for the second consecutive time. This move comes as concerns grow over the potential slowdown in global economic growth due to U.S. tariff policies, leading to a more cautious approach to rate hikes.
According to reports from Kyodo News and Asahi Shimbun on May 1, the BOJ made this decision during its two-day monetary policy meeting.
The BOJ expressed concerns that global economic growth might slow down due to trade tensions sparked by U.S. tariff policies, which could also negatively impact the profitability of Japanese companies.
The central bank added a new condition to its previous stance, stating that future rate hikes and adjustments to monetary easing would depend on improvements in the economy and inflation. NHK interpreted this as a sign that the BOJ is carefully considering the economic and price impacts of the uncertain global situation, including the effects of U.S. trade measures under the Trump administration.
Earlier, in March of last year, the BOJ raised interest rates for the first time in 17 years, ending its negative interest rate policy, and followed up with another rate hike in July, signaling its intent to move away from large-scale monetary easing. In its monetary policy decision at the end of January, the BOJ raised its short-term policy rate from around 0.25% to 0.5%, but decided to keep rates unchanged at its March meeting.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
