At its policy meeting in September, the Bank of Japan raised its policy rate to 1.25% from 1%, taking Japan’s borrowing costs to their highest level since 1995. | Reuters

The Bank of Japan held rates steady even as inflation ticks up again and is now above the central bank’s target rate for core consumer price increases.

It kept its policy rate — the uncollateralized overnight call rate — at 1.25%, as it concluded a two-day policy meeting on Friday.

Given that the last move higher was just in September, analysts and investors widely expected that the bank would sit tight this time.

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