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

As the United States moves to cut interest rates, the Bank of Japan will begin its monetary policy meeting on the 18th.

Within the Bank of Japan, many believe that more time is needed to assess the impact of the U.S. tariff measures, and the meeting is expected to discuss maintaining the current policy interest rate.

The Bank of Japans Monetary Policy Meeting will be held over two days starting on the 18th, during which the current state of the economy, prices, and immediate policy measures will be discussed.

The Bank of Japan has maintained its monetary policy for four consecutive meetings, aiming for additional interest rate hikes, while noting that the outlook for the economy and prices remains highly uncertain due to U.S. tariff measures.

Afterwards, the uncertainty surrounding tariff measures somewhat eased, as the tariff rate on automobiles was reduced to 15% based on the Japan-U.S. agreement. However, within the Bank of Japan, there is a growing consensus that it is necessary to analyze next months Tankan Short-Term Economic Survey of Enterprises and reports from branch managers meetings in order to assess the impact on the economy.

For this reason, discussions at this meeting are expected to focus on keeping the policy interest rate unchanged.

Also, on the morning of the 18th Japan time, the U.S. Federal Reserve Board FRB set the policy interest rate at 0.

We have decided to reduce it by 25%.

Chairman Powell stated at the press conference that “the downside risk to employment is increasing,” and the Bank of Japan, in making future policy decisions, will closely monitor not only the domestic situation but also the state of the U.S. economy and prices following the rate cut, as well as trends in the foreign exchange and other financial markets.

In the press conference held by Governor Ueda after the meeting, attention will also be focused on what views he will express regarding the outlook for the U.S. economy.