BoJ keeps key rate steady

The Bank of Japan (BoJ) left its key interest rate unchanged at 0.5 per cent in a widely-expected move today as it remained cautious about rising inflation and slowing growth in the country. BoJ’s seven-member Policy Board voted unanimously to keep the target rate for unsecured overnight call money on hold for the 19th straight month. BoJ maintained its basic assessment of the Japanese economy, saying in a statement, “Economic growth has been sluggish against the backdrop of high energy and material prices and weaker growth in exports.”