BOJ Likely to Hold Rates Steady to Gauge Trump Tariff Impact

Apr 30 (News On Japan) - The Bank of Japan is expected to keep its policy rate unchanged at the meeting starting today, as it takes time to assess the impact of the evolving U.S. tariff policy under Donald Trump.

The central bank finds itself in a holding pattern amid the shifting stance of Trump’s tariff measures. While discussions are centered on potential downward pressure on Japan’s economy and prices, confusion is spreading within the BOJ, with officials noting that "projections shift significantly depending on how tariff rates are set."

With the outcome of U.S.-Japan trade negotiations still unclear, the dominant view within the BOJ is to take a cautious, wait-and-see approach, making a rate hold the likely outcome.

While wages and prices continue to rise steadily, the BOJ also plans to discuss the possibility of pushing back its forecast for achieving the 2% inflation target, which had been projected for the end of fiscal 2026, possibly to fiscal 2027.

Although the BOJ wants to stay on a path toward rate hikes, it is now at a critical juncture, as global economic uncertainty clouds the outlook.

Source: TBS

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