-BOJ leaves policy rate steady.
Global Banking News - 16 November 2011
The Bank of Japan (BOJ) has decided to leave its key rate steady, but downgraded its assessment of the economy.
The central bank's policy board has decided to leave its policy rate, the unsecured overnight call loan rate, in the range of 0.0 percent to 0.1 percent. The central bank has also maintained the size of its asset buying programme, the central bank's main tool for credit easing amid the nearly zero interest rates, at JPY55tn.
'The Japanese economy has continued picking up, but at a moderate pace mainly due to the effects from a slowdown in overseas economies,' the central bank said. The BOJ said that even though the economy is expected to return to a moderate recovery later, the slowdown in overseas economies, the yen's persistent strength, and the flooding in Thailand would all adversely affect it.
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