The Bank of Japan (BOJ) has kept its rates steady at 0.75% as expected, but warned that inflation risks are now tilted towards the upside due to the Iran war. The decision comes as Tokyo deals with the fallout from the conflict, which has pushed up energy prices. The BOJ split with eight members of the nine-member board voting in favor of a hold. The central bank is closely monitoring spring wage negotiations, which involve Japan's labor federations and the country's largest firms, crucial to achieving its 2% inflation target. Inflation in Japan currently stands at 1.5% as of January, the first time headline inflation has fallen below the BOJ's target after 45 consecutive months surpassing it.