[MARKET UPDATE] USD/JPY moves lower as the BoJ held rates at 0.75% with the vote split at 6-3, with 3 advocating a hike to 1.0% amid upward risks to inflation; BoJ also upgraded inflation outlook and downgraded growth, with FY27 growth only modestly cut

The BoJ's decision to maintain rates at 0.75% is seen as dovish, especially with the split vote indicating internal disagreement on the necessity for a rate hike, suggesting uncertainty in their approach to inflation risks. The upgraded inflation outlook contrasted with a downgrade in growth signals a potential future tightening if inflation persists, but for now, the market may react with a weaker yen as traders digest the implications for rates and economic health.