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International Business Times

Business

Kyoko HASEGAWA

Yen Drops As Bank Of Japan Maintains Key Interest Rate

Japan Bank of Japan the Federal Reserve US Federal Reserve BOJ Donald Trump Shigeru Ishiba

Japan's government recently passed an extra budget to help pay for a massive economic stimulus package (Credit: AFP)

The yen weakened against the dollar Thursday after the Bank of Japan kept borrowing costs unchanged, extending a retreat for the currency that came after the Federal Reserve forecast fewer rate cuts.

The BoJ said after a two-day policy meeting that it would hold rates at around 0.25 percent, pushing the yen cheaper than 155 per dollar, compared with 153.66 on Wednesday.

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