TOKYO, Jan. 23 (Xinhua) -- The Bank of Japan (BOJ) on Tuesday maintained ultralow interest rates as expected at its first meeting this year, while revising down its inflation forecast for fiscal 2024 as price increases ease.
The central bank said at the end of its two-day policy meeting that core consumer prices, excluding volatile fresh food, are now expected to rise 2.4 percent for the fiscal year starting in April, down from 2.8 percent estimated earlier.
The central bank left short-term interest rates at minus 0.1 percent, while maintaining its yield curve control (YCC) policy of allowing 10-year government bond yields to move up to around 1.0 percent, according to a policy statement released Tuesday.
The BOJ said it would "not hesitate to take additional easing measures if necessary," adding that it would continue the YCC policy as long as it is necessary for achieving its goal of stable inflation of 2 percent. ■
