Bank of Japan sticks to rate hold strategy

The Bank of Japan's rate-setting board decided to hold its benchmark overnight call rate at 0.5% for the ninth month in a row on Tuesday.

For the sixth month in a row, the board voted eight to one in favour of the decision. Again, Atsushi Mizuno was the sole dissenter, voting for a 25 basis point hike.

In spite of data published on Tuesday revealing better-than-expected growth of 2.6% for the third quarter, the central bank was forced to hold rates because of the downside risks that global

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