The Bank of Japan has maintained its low interest rates, signalling that it will remain in stimulus mode despite mounting speculation in financial markets that an exit from decades of ultra-loose monetary policy was in sight.
In a statement accompanying its decision on Friday, the BoJ noted “extremely high uncertainties” surrounding economies and markets at home and abroad.
Traders in Tokyo said markets would primarily be guided by comments from BoJ governor Kazuo Ueda, who was due to give a press conference on Friday afternoon and explain how the central bank views the fact that consumer price growth has exceeded its 2 per cent target for 17 straight months.