BoJ Retains Interest Rate, Stimulus Unchanged
The Bank of Japan refrained from raising its monetary stimulus and kept its negative interest rate unchanged on Tuesday.
The policy board governed by Haruhiko Kuroda decided by an 8-1 majority vote to hold its target of raising the monetary base at an annual pace of about JPY 80 trillion.
Policymakers voted 7-2 to maintain -0.1 percent interest rate on current accounts that financial institutions maintain at the bank.
The bank had introduced negative interest rate unexpectedly in January in order to achieve its 2 percent inflation at the earliest possible time.
The bank said the economy has continued its moderate recovery trend, although exports and production have been sluggish due mainly to the effects of the slowdown in emerging economies.
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