BOJ keeps interest rates steady, sticks to recovery view

TOKYO: The Bank of Japan kept interest rates steady on Thursday and maintained its assessment the economy was recovering moderately, even as an escalating Middle East conflict clouded the outlook.

As widely expected, the central bank left unchanged its short-term policy rate at 0.75 per cent in a two-day meeting that ended on Thursday. Board member Hajime Takata dissented to the decision, instead calling for a hike to 1.0 per cent.

BOJ Governor Kazuo Ueda is expected to brief media on the decision at 3.30pm.