Bank of Japan Governor Kazuo Ueda attends a press conference after a two-day monetary policy meeting at the Bank of Japan headquarters in Tokyo on October 31, 2024.
Richard A. Brooks | Getty Images
The Bank of Japan kept its benchmark interest rate steady at 0.25% on Thursday.
The decision came one day after the Federal Reserve cut interest rates by 25 basis points, bringing the federal funds rate to 4.25%-4.5%.
The BOJ’s decision is in line with a CNBC poll that showed 13 out of 24 economists expected the BOJ to keep its key interest rate unchanged in December before raising rates at its next meeting in January. .
The survey was conducted between Dec. 9 and 13, when the Fed signaled fewer rate cuts in 2025.
Citigroup’s report on December 13 predicted that the Bank of Japan will raise interest rates three times in 2025, bringing interest rates to 1%.
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