The Bank of Japan (BOJ) announced today that it would hold its monetary policy steady, leaving its key interest rate unchanged at -0.1%. The central bank also decided to continue its asset purchase program, aimed at injecting liquidity into the financial system.

The decision reflects the BOJ’s assessment of the current economic situation, which is characterized by moderate recovery but also faces headwinds from global economic uncertainty, particularly related to the slowdown in emerging markets and fluctuations in commodity prices.

The BOJ remains committed to achieving its 2% inflation target. While inflation has remained stubbornly low, the central bank expects it to gradually accelerate as the economy continues to recover and as the effects of past monetary easing measures filter through.

Some analysts had speculated that the BOJ might consider further easing measures, given the persistent weakness in inflation. However, the central bank appears to be taking a wait-and-see approach, preferring to assess the impact of its existing policies before taking further action.

The BOJ’s next policy meeting is scheduled for January.