Tokyo: The Bank of Japan (BOJ) announced on Friday that it will keep its benchmark interest rate unchanged at around 0.5%, while also beginning sales of billions of dollars in financial assets. The central bank made the decision at the conclusion of its two-day policy meeting, marking the fifth consecutive meeting in which rates have been left on hold. The BOJ last raised rates in January but has indicated it remains open to further increases depending on economic conditions.

According to Qatar News Agency, the BOJ decided to sell exchange-traded funds (ETFs) and Japan real estate investment trusts (J-REITs) at an annual pace of about 330 billion yen ($2.2 billion) and 5 billion yen in book value, respectively. The decision followed the US Federal Reserve's move on Wednesday to resume interest rate cuts, while signaling that additional monetary easing may follow. Similarly, the Bank of England kept interest rates unchanged at its meeting on Thursday as global markets closely watch shifts in monetary policy.