The Bank of Japan maintained its policy rate on Thursday, as conflict in the Middle East cast a shadow over the inflation outlook. Following a two-day meeting, the central bank kept its benchmark interest rate at 0.75%, according to the policy statement. This outcome was in line with economists' expectations. Bank of Japan Governor Kazuo Ueda is scheduled to hold a press conference later on Thursday, typically around 15:30 Tokyo time. He is expected to elaborate on the reasoning behind the decision and share his views on the future path of interest rates. Foreign exchange traders will remain vigilant, as his cautious explanations for standing pat have previously often exerted downward pressure on the yen. Following the policy announcement, the yen maintained its gains against the US dollar. The yen appreciated 0.2% against the dollar to 159.61.