BOJ keeps rate target unchanged at around 0.5%

The Bank of Japan said it will keep its benchmark interest rate unchanged, pointing to uncertainty hanging over the economy and international trade. The central bank said at the end of its two-day policy meeting that it will continue to target a short-term rate of around 0.5 percent. It's the sixth time in a row that the BOJ has maintained the same level since a rate hike in January.

Governor Ueda Kazuo said the uncertainty caused by US tariff measures remains high in the overseas economy. Ueda also said he needs a little more time to study whether businesses will retain their aggressive attitude in setting wages, even when US tariff measures continue to put downward pressure on profitability.