Japan keeps rates on hold

In a widely anticipated move, the rate-setting board voted 8-1 to keep the cost of borrowing unchanged for the 8th consecutive meeting.

The central bank and its governor, Toshihiko Fukui, have appeared keen to raise rates but a combination less-than-impressive domestic numbers and weakending global credit conditions may have set back any such plans until early next year.

Speaking at a conference after the decision, Fukui remained upbeat however:

"I do not have in mind a specific level that we s