BOJ Keeps Rate 0.75%; Flags Hikes

BOJ left its overnight call rate unchanged at 0.75% on 28 April 2026, with three board members urging higher rates.
BOJ projects FY2026 headline CPI at 2.8‑3.0% and core CPI at 2.5‑2.7%, above its 2% target and prior forecasts.
Real GDP growth for FY2026 is now expected between 0.4% and 0.7%, revised down from 0.8%‑1.0%, with trims for 2027‑2028.
BOJ has raised rates by 85 basis points since early 2024 and signals hikes, with markets expecting a 25‑bp increase in June.