Japan holds rates for now

The Bank of Japan's monetary policy board voted 8-1 in favour of keeping the overnight call rate at about 0.5%.

Only Atsushi Mizuno, last month's lone dissenter, voted against the hold.

The board will next meet on 19 September, the day after the Federal Reserve decides whether to lower the federal funds rate.

Though Japan is expected to increase the overnight rate before the end of the year, the timing of the September decision may lead to another rate hold.

Colin Asher, a senior economist at