Japan’s Central Bank Holds Rates Steady
April 10, 2007
The Bank of Japan held interest rates steady at 0.5 percent Tuesday, saying its economic assessment was the same as the previous month.
The unanimous vote by the central bank keeps the key overnight lending rate the lowest of major economies.
The U.S. Federal Reserve’s benchmark rate is 5.25 percent and the European Central Bank’s is 3.75 percent.
Japan’s economy is expanding moderately, the bank’s monthly economic report said, using the same language it used in March. Japan’s economy is expected to expand moderately.
The Bank of Japan doubled the overnight rate from 0.25 percent in February, the first tightening move since July.