For the second month in a row, the nine-member board unanimously voted to keep rates unchanged. It is the eleventh consecutive rate hold.
The central bank, which was looking to raise rates last year before the credit crunch hit, is now unlikely to hike the benchmark uncollateralised overnight call rate in the near future as the likely slowdown in the United States impacts the Japanese economy.
Colin Asher, a senior
- EC’s Cyprus ‘failure’ undermined Eurozone central bank independence – Demetriades
- Reserve management practices are splintering
- Female regulators increase stability of the financial system, IMF paper finds
- Booming US economy set against ‘fragile’ markets – BIS review
- BIS paper defends credit gap measure