The Bank of Japan kept interest rates steady on Wednesday and warned of heightening global economic uncertainty, suggesting the timing of further rate hikes will depend largely on the fallout from potentially higher U.

BOJ noted that a recent spike in rice prices is expected to keep upward pressure on consumer costs. The central bank did not signal any immediate acceleration

The Bank of Japan held interest rates on Wednesday as the rising risk of a global trade war and potential downturn in the US weighed on Japan’s hope for a sustained economic revival. The unanimous decision,