Japan cut unlikely after Fukui comments

A slowdown in Japanese growth will not lead to a rate cut, Toshihiko Fukui, the governor of the Bank of Japan indicated on Friday.

"We will steer monetary policy based on our belief that Japan can continue to post stable growth by keeping the current accommodative conditions," Fukui told lawmakers in the Diet on Friday.

At 0.5%, Japan's benchmark rate is currently the lowest in the developed world. The central bank wanted to hike rates in the second half of last year but any move was stymied b