BOJ keeps rates steady by 8-1 vote, board member Tamura dissents

TOKYO (Reuters) – The Bank of Japan kept interest rates steady on Thursday, underscoring policymakers’ preference to spend more time scrutinising whether wage hikes will broaden and keep inflation durably around its 2% target.

As widely expected, the board decided to keep the BOJ’s short-term policy rate unchanged at 0.25% by an 8-1 vote, with board member Naoki Tamura dissenting.

BOJ Governor Kazuo Ueda is expected to hold a press conference at 3:30 p.m. (0630 GMT) to explain the policy decision.

The BOJ also released its findings on the merits and cost of various unconventional monetary easing tools used in its 25-year battle with deflation, in another symbolic step towards ending its massive stimulus. The policy review was initiated by Ueda when he took office in April last year.