India, July 31 -- The Bank of Japan maintained its interest rate on Thursday and lifted its inflation outlook citing the rise in food prices.
The policy board unanimously decided to hold the uncollateralized overnight call rate to remain at around 0.5 percent.
Previously, the bank had raised the benchmark rate to the current level from 0.25 percent in January. In the Outlook for Economic Activity and Prices, the bank raised its inflation outlook due to the rise in food prices. For the fiscal 2025, inflation forecast was lifted to 2.7 percent from 2.2 percent.
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