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Bank of Japan leaves rates unchanged

The Policy Board of the Bank of Japan has announced that it has decided to leave the country’s interest rate unchanged at between 0% and 0.1%.

The decision, based on a vote that was unanimous, was generally expected and follows similar no-change decisions by the Bank of England and ECB.

The Bank of Japan said in a statement that whilst overseas economies remained in a deceleration phase signs of improvement were present.

In addition, the Japanese economy appears to have stopped weakening, with public investment rising and private consumption resilient.

As has been the case for some time, annual CPI (excluding fresh food) remains at around the 0% mark.

The Bank of Japan has forecast that the Japanese economy will level off for the time being before returning to a path of moderate recovery.

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