India, July 31 -- The Japanese yen strengthened against other major currencies in the Asian session on Thursday, following the Bank of Japan's decision to increase its inflation forecast for the fiscal year while maintaining steady interest rates.
The BoJ maintained its interest rate 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....