The Bank of Japan just did nothing, again

Junko Kimura/Getty Images

As expected, the Bank of Japan has kept monetary policy steady in July.

Voting 8-1, the same as its previous meeting, the board pledged to increase the monetary base at an annual pace of about 80 trillion yen, something that has been in place since October 2014.

The full monetary policy statement is here.

Accompanying the policy decision, the board lowered its GDP forecast for fiscal year 2015 to 1.7%, down from 2.0% in April. Core CPI was also lowered to 0.7% from 0.8% offered previously.

BoJ Governor Haruhiko Kuroda is scheduled to hold his usual post-meeting press conference from 4.30pm AEST.

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