MONETARY AFFAIRS

Review: BOJ Keeps Rates on Hold, But is Still Considering Further Hikes 

by Brunello Rosa and Nato Balavadze

19 March 2025

In this paper we discuss:

• The BoJ's assessment of the Japanese economy;
• What the BOJ did in March and could do in coming months;
• How the economy has performed compared to the January forecasts; and
• The market reaction.

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Download PDF: BOJ Review - March 2025

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