Bank of Japan holds rates in first meeting after 'Abenomics' proponent Takaichi's ascent to prime minister
Update: 2025-10-30
Description
Japan's Central Bank Maintains Interest Rates Amid Inflation, Drawing U.S. ConcernsJapan's central bank, under new Prime Minister Sanae Takaichi, kept interest rates at 0.5% during its first meeting, despite inflation surpassing the target for 41 months. This cautious approach has raised eyebrows, especially in the U.S., where Treasury Secretary Scott Bessent met with Japan's Finance Minister Satsuki Katayama to discuss the yen's weakness. The yen has weakened significantly, trading around 152 against the dollar, with Finance Minister Katayama suggesting its real value should be between 120 and 130. The Bank of Japan's steady approach reflects the complex challenges facing the new administration, balancing domestic economic growth with international pressure for currency stabilization.
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