TOKYO, July 31 (Xinhua) -- The Bank of Japan decided Friday by a majority vote to hold its benchmark interest rate steady at 1 percent following a two-day board meeting.
Since its historic exit from negative interest rates in March 2024, the BOJ has raised rates a total of five times. In June, the bank raised its short-term policy rate to 1 percent from 0.75 percent, taking its policy rate to the highest level since 1995. ■