Japan holds key rate, cuts economic view

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The Bank of Japan has decided to keep its key interest rate at virtually zero, but signalled its readiness to ease policy again if the nation's recovery came under threat. In line with expectations, the BOJ maintained its key rate by unanimous vote and held off on loosening policy further through an expansion of its asset buying scheme.

The central bank voiced concern about a strong yen, continued flooding in Thailand, and possible fallout from Europe. Because of these factors, the BOJ lowered its assessment of Japans economy, saying it would still pick up but at a "more moderate pace."

Analysts say its difficult to predict the timing of the central banks next move, as it rests largely on currency moves. One said an easing may be likely early next year, when the effects of last months currency intervention and monetary easing will fade.

Editor:Zhang Rui |Source: CNTV.CN



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