Japan holds rates for eighth consecutive month

The Bank of Japan's rate-setting board has kept the target for the benchmark uncollateralised overnight call rate at 0.5%.

The board voted eight to one in favour of the decision on Wednesday, with Atsushi Mizuno, the most hawkish member of the board, again the only objector.

Japan has held rates since February, when it raised the benchmark target 25 basis points to 0.5%.

The central bank was unlikely to raise rates after government data revealed on Tuesday that unemployment had increased

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