BOJ keeps interest rates steady, signals further rate hikes

What happened: The Bank of Japan kept its short-term policy target at 1.25% by an 8-1 vote at a two-day meeting that ended on Friday, and signaled further rate hikes. Key numbers: Policy target held at 1.25%. Vote was 8-1. Board member Hajime Takata dissented, calling for a 1.5% hike. Governor Kazuo Ueda holds a news conference at 3:30 p.m. (0630 GMT). Why it matters: The decision signals the central bank intends to raise rates further, and the lone dissent for a 1.5% hike shows internal support for a faster path. Ueda's news conference is expected to explain the policy decision. Coverage: 3 outlets in 24h

The Bank of Japan kept its short-term policy target at 1.25% by an 8-1 vote at a two-day meeting that ended on Friday, and signaled further rate hikes.

The decision signals the central bank intends to raise rates further, and the lone dissent for a 1.5% hike shows internal support for a faster path. Ueda's news conference is expected to explain the policy decision.