Japan's central bank keeps key interest rate unchanged
21/11/2008 17:39
The Bank of Japan (BOJ), or the central bank of the country, kept its key
interest rate unchanged at 0.3 percent, it announced today.
The BOJ Policy
Board voted unanimously after a two-day board meeting to keep the central bank's
target rate for unsecured overnight call money stable. Last month it lowered the
benchmark lending rate in the interbank market from 0.5 percent to the current
level for the first rate cut in more than 7 years.
The Japanese economy "has
been increasingly sluggish," the BOJ said in its statement.
BOJ's governor
Masaaki Shirakawa is to hold a press conference later in the day.
Xinhua
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