BOJ to Sit Tight With Oil Surge Set to Fuel Inflation

The Bank of Japan is widely expected to keep its benchmark rate unchanged on Thursday as soaring oil prices are set to complicate efforts for the central bank to reach its 2% stable inflation target.

All 51 BOJ watchers surveyed expect the board to hold its benchmark rate at 0.75% when its two-day policy meeting concludes on Thursday. The bank typically announces its decision around noon Tokyo time followed by Governor Kazuo Ueda’s press conference at 3:30 p.m.