Bank of Japan is set to keep interest rates unchanged at the July meeting, maintain tightening guidance
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BoJ set to keep interest rates unchanged in July but maintain policy guidance pledging to continue raising rates BoJ may revise up fiscal 2026 economic growth forecast in quarterly report due in July, keep focus on risk of inflation overshoot The Bank of Japan is set to leave its
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Lead — The Bank of Japan is expected to maintain its policy rate at 1.00% during its upcoming meeting on July 31, reflecting a cautious approach to further tightening despite some economic optimism. Per the full note [source], while signs of robust retail sales and improved business sentiment may lean toward a hawkish outlook, the desk believes that these developments won't significantly alter the USD/JPY trajectory. The consensus forecast seems to suggest that any additional rate hikes will be slow and measured, with traders adjusting their positions accordingly. With targets generally clustered around 149.00 for December 2026, market focus is on economic trends and their potential impacts on monetary policy.