日銀にちぎん 金融きんゆう政策せいさく決定けってい会合かいごう 政策せいさく金利きんりを据すえ置おく方向ほうこうで議論ぎろんの見通みとおし

The Bank of Japan will hold the second day of its monetary policy meeting on the 31st.

Within the Bank of Japan, while some believe that uncertainty has decreased following the Japan-U.S. agreement on the Trump administrations tariff measures, many also want to assess the impact on corporate earnings and other factors. As a result, discussions at the meeting are expected to focus on maintaining the current policy interest rate.

The Bank of Japans Monetary Policy Meeting enters its second day on the 31st, with Governor Ueda and the other eight committee members discussing the immediate policy outlook.

So far, the Bank of Japan has kept its policy interest rate unchanged for three consecutive meetings, citing uncertainty about the outlook for the domestic economy and prices due to the tariff measures implemented by the Trump administration.

For this meeting, negotiations between Japan and the U.S. regarding tariff measures reached an agreement late this month, and within the Bank of Japan, there is a perception that uncertainty has decreased.

However, many opinions point out that the impact on corporate earnings and other factors is not yet sufficiently reflected in the data and needs to be analyzed over time, and that the tariff negotiations between the United States and China should be closely monitored. Therefore, discussions are expected to be held this time as well with a view to keeping the policy interest rate unchanged.

On the other hand, the Bank of Japan will announce its economic and price outlook through fiscal 2027 in conjunction with this meeting.

We will reflect the latest developments, such as the continued high prices of rice and other goods and the Japan-U.S. agreement on tariff measures, in our forecasts for economic growth and inflation rates. However, since these factors will have a significant impact on future monetary policy management, the focus will be on what kind of projections will be presented.