BoJ: Upside Risks Persist For Recovery In Emerging Economies

(RTTNews) - The Bank of Japan’s monetary policy board members said that there remains a degree of upside risk to the recovery of the emerging economies from the global slowdown, minutes from the October 13 and 14 monetary policy meeting revealed on Thursday.

With that in mind, the minutes also indicated that the bank needs to continue to maintain the current accommodative conditions - while also making sure the markets are aware of that stance. A downtrend in process is expected to continue in the near term, the bank added.

The BoJ unanimously decided to maintain the uncollateralized overnight call rate at 0.1 percent. The last change in the rate was a 0.1 percent cut in interest rates at the December 2008 meeting.

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