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Bank of Japan keeps interest rates unchanged

TOKYO, Japan (AP) — Japan’s central bank kept interest rates unchanged Friday amid growing worries about a global slowdown.

The unanimous decision, which came at the end of a two-day Bank of Japan policy board meeting, had been widely expected.

With the Japanese economy battling weak housing investment and cautious corporate sentiment, the market had anticipated that the target for a key interest rate would be kept steady at 0.5 percent.

The market is awaiting for signs about the future direction for monetary policy from comments by outgoing Bank of Japan Governor Toshihiko Fukui expected later in the day.

Much of last year, the question had been on when the BOJ would raise rates.

But the global economic turmoil set off by the U.S. subprime mortgage crisis has scotched that view. Watch candidates for the next BOJ governorship

Now, some are starting to speculate the central bank may start cutting interest rates instead.
Bank of Japan keeps interest rates unchanged – found here.


February 15, 2008 - Posted by | Uncategorized

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