Japan holds, warns recovery to "take some time"

The Bank of Japan left rates on hold at 0.3% on Friday and warned that the country's ailing economy was unlikely to recover soon.

It emerged this week that the world's second-largest economy has been in recession since March and the Monetary Policy Council said after the rate-setting meeting that it would "likely take some time for the necessary conditions for Japan's economic recovery to be satisfied."

"The outlook remains highly uncertain and given the slowdown in overseas economies and the

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