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Japanese Central Bank’s October 2011 Announced – Interest Rate Near Zero Until Price Stability Attained.

October 19, 2011

Japan is monitoring its economy carefully to understand how it will be affected by the ensuing fluctuations in the financial and forex markets and the uncertain economic developments overseas. Hard hit by deflation, the central bank of Japan announced in October 2011 that they promise to keep interest rates near zero until central banks attain price stability.
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Hong Kong (PRWEB) October 19, 2011

InvestTechFX reported Bank of Japanâs October 2011 announcement to maintain the overnight call rate target at a low key interest rate of 0 to 0.1 percent with all nine members of its policy board voting unanimously. The decision to extend a special emergency loan program by another six months through April 2012 was also made at this two-day meeting amidst concerns regarding the health of the global economy. The emergency loan program will be instilled throughout financial institutions to support reconstruction efforts in disaster stricken regions The country that ranks third in the world hopes to pick up economically, and financial experts predict a moderate recovery over time. The Japanese Central Bank also questioned whether emerging high-growth economies would be able to maintain momentum during their ongoing effort to control inflation.

Capital investments and private consumption were hard hit due to the March earthquake and tsunami that devastated northeastern Japan. Still, the Bank of Japan reported that industrial production and output figures collected show recovery with exports in August rising for the first time in six months. A Central Bank report revealed a cautiously optimistic assessment of corporate Japan as sentiments were expressed saying they would be vigilant about the sovereign debt problems in Europe and the health of the United States Economy.

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/10/prweb8893490.htm


Source: prweb