The Bank of Japan indicated increasing concern over the economy as it stuck with a dovish stance that contrasts with the rate hikes of the Federal Reserve and the Bank of England this week.
The BOJ left its interest rates and asset purchases unchanged, according to a statement Friday, as predicted by all economists surveyed by Bloomberg.
The central bank revised down its economic assessment just two months after it was upgraded, citing the impact of COVID-19. It also flagged the need to monitor developments in markets and commodity prices in the wake of Russia’s invasion of Ukraine.