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Bank of Japan holds key interest rate unchanged, sees positive signs for economy

Updated:2009-10-15 10:20:43

The Bank of Japan (BOJ) decided Wednesday to hold interest rates unchanged at 0.1 percent, saying that it sees positive signs in the economy at the conclusion of a two-day policy board meeting.

In a statement released at the end of the meeting, the BOJ said:" The Bank's baseline scenario through fiscal 2010 ... projects that the economy will recover."

However, the BOJ stopped short of making any comment on when it would start to withdraw measures it has put in place to stimulate the economy such as buying corporate bonds.

Many had expected that the BOJ would announce a start to cuts on stimulus measures, but proceeding with caution, the report stated: "The Bank, paying attention for the time being to the downside risks to economic activity and prices, will continue to exert its utmost efforts as the central bank to facilitate the return of Japan's economy to a sustainable growth path with price stability."

The BOJ's next meeting is scheduled for Oct. 30.  

 

Source:http://news.xinhuanet.com

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