Bank Of Japan Keeps Interest Rates On Hold

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4:23 GMT

Oct 2009

Bank Of Japan Keeps Interest Rates On Hold

(RTTNews) - Thursday, the policy board of the Bank of Japan unanimously decided to retain the overnight call rate at 0.1%, in line with the expectations of economists. The last change in the rate was a 0.1% cut in interest rates at the December 2008 meeting.

In an accompanying statement, the bank said, “The Bank will maintain the extremely accommodative financial environment for some time by holding interest rates at their current low levels and providing ample funds sufficient to meet demand in financial markets.”

The bank also said that special funding operations will remain in effect until the end of March 2010.

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