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August 11, 2009

Japan keeps rates at 0.1%

by Richard Kilner

Story link: Japan keeps rates at 0.1%

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

The unanimous decision comes as the decline in the Japanese economy comes to an end.

Exports, production and public investment are all rising, although corporate profits and private consumption remain weak.

The Bank of Japan has forecast that the economy will begin to recover later this year, aided by economic improvement overseas as well as monetary and fiscal policy.

The Bank of Japan is the latest in a string of central banks across the world to keep rates level, following the European Central Bank and Bank of England’s decisions earlier this month.

The rate of global economic decline has slowed, and the British economy saw the rate of contraction reduced in the second quarter of the year, prompting speculation that some ‘green shoots’ may not be too far off.


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