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Japan's central bank freezes key interest rate

Japan,Business/Economy, Tue, 10 Apr 2012 IANS

Tokyo, April 10 (IANS) The Japanese central bank decided Tuesday to keep its key interest rate unchanged and refrained from fresh monetary easing steps, dashing market hopes.


The Bank of Japan (BOJ) announced after a two-day policy board meeting that it voted unanimously to keep the key short-term interest rate at between zero to 0.1 percent, reported Xinhua.


The BOJ also maintained its assessment that the economy showed signs of picking up. The central bank said in a statement that the domestic demand has seen much progress but the situation facing the export sectors has not been improved.


The BOJ expected the economy to return to a moderate recovery track because the pace of recovery in overseas economies is picking up and the demand driven by reconstruction has augmented.


But the BOJ warned that the overall global economy has not stopped the slowdown trend and uncertainties are still lying ahead.


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