BOJ Monetary Policy Navigator

BoJ confirms that data are "on track" and still sees upside risk to prices in FY25

• BoJ left policy rate on hold for second time in a row at October MPM and made no changes to baseline scenario for economic activity and prices in Outlook Report

• Outlook Report noted that risks to prices were still skewed to upside in FY25

• Bank now waiting for evidence its outlook is more likely to be realized; more aggressive fiscal policy could undermine price stability and force it to adjust policy sooner