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Tuesday 17th of August 2010

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August 10, 2010

Japan keeps rates at 0.1%

by Richard Kilner

Story link: Japan keeps rates at 0.1%

The Policy Board of the Bank of the Japan has decided to retain the country’s interest rate at 0.1%.

The decision, which was made unanimously, comes as overseas growth helps support the moderate Japanese recovery.

Although CPI continues to fall the rate of decline has slowed, and both exports and production continue to improve.

The Bank of Japan has reiterated its commitment to help the nation overcome deflation, and to promote the extremely accommodative financial environment.

Last week the Bank of England and the European Central Bank also held rates, at the historically low levels of 0.5% and 1% respectively.

Recently the United Kingdom interest rate has become a topic of discussion, with some suggesting an increased rate would help combat inflation.

However, others fear that such a move would damage the economy and risk damaging growth, perhaps even tipping the country back into recession.

 

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