The Bank of Japan kept monetary policy unchanged on Thursday as uncertainty overseas overshadowed signs of recovery at home and as real-wage growth remained a nagging concern.
“The outlook for the global economy, especially the U.S., remains vague while the economic policies of the next U.S. administration are still largely uncertain," Gov. Kazuo Ueda said during a news conference after the decision was released.
Following a two-day policy meeting that ended Thursday, the central bank said that its target rate would remain 0.25%. The yen sharply weakened on the news, breaking ¥157 to the dollar in the evening compared to ¥153 on Wednesday.
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