At the conclusion of its June 30July 1 meeting, the Bank of Japans Policy Board announced on Thursday morning that it would leave interest rates unchanged at a range of 0.50% the highest level since 2008 in line with most global market expectations. This marks the fourth consecutive meeting with no rate change.

The decision to maintain the short-term interest rate was unanimous, with all nine members of the central banks board voting in favor.

Policymakers at the Bank of Japan appear inclined to spend more time assessing the potential economic impact of looming US tariff hikes, particularly on Japans export-dependent economy.