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MARKETS LIVE BLOG:

STOCKS SURGE AS FED CHAIR FIRES UP RALLY

Rate-sensitive growth stocks climb, with Big Tech megacaps making gains

BOJ keeps interest rates steady, sticks to upbeat economic view

Reuters
·1 min read
FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo

TOKYO (Reuters) - The Bank of Japan kept interest rates steady on Friday and maintained its view the economy remained on track for a moderate recovery.

In a widely expected move, the central bank left unchanged its overnight call rate target at 0.25% by a unanimous vote.

BOJ Governor Kazuo Ueda will hold a news conference at 3:30 p.m. (0630 GMT) to explain the decision.

The BOJ ended negative interest rates in March and raised its short-term policy rate to 0.25% in July on the view that the likelihood of inflation sustainably hitting its 2% target was heightening.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)