Japan interest rate left unchanged
Japan’s central bank, responding to continuing volatility in global financial markets, Wednesday left its short-term interest rate unchanged at 0.5 percent.
The 8-1 decision by the Bank of Japan's policy board was in line with market expectations in view of the U.S. subprime mortgage crisis, Kyodo reported.
The central bank has left the rate unchanged since July and the latest decision came ahead of the U.S. Federal Reserve’s rate announcement.
The Bank of Japan raised its rate to 0.5 percent from 0.25 percent in February. It was the first such hike in six years. // Copyright 2007 by United Press International
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