TOKYO (Reuters) -The Bank of Japan kept interest rates steady and slashed its growth forecasts on Thursday, as the hit to global demand from higher U.S. tariffs cloud the outlook for the country’s fragile economic recovery.
As widely expected, the board decided to keep the BOJ’s short-term policy rate unchanged at 0.5% by a unanimous vote.
BOJ Governor Kazuo Ueda is expected to hold a press conference at 3:30 p.m. (0630 GMT) to explain the policy decision.
(Reporting by Leika Kihara, Makiko YamazakiEditing by Chang-Ran Kim)
