The Japanese yen slid to around 153 per dollar on Thursday, hitting its weakest level in nine months after the Bank of Japan left its policy rate unchanged at 0.5%. The central banks board voted 7-2 to maintain the uncollateralized overnight call rate and kept its inflation outlook steady. For fiscal 2025, inflation is expected to average 2.7% before easing to 1.8% the following year, with the 2% target likely reached by fiscal 2027. The BoJ also projected moderate economic growth as global conditions improve. Meanwhile, a stronger US dollar added further pressure on the yen after the Federal Reserve announced a quarter-point rate cut on Wednesday, as traders weighed diverging policy paths between Tokyo and Washington.
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