BoJ Upgraded Outlook, Yen Staying in Tight Range
The Bank of Japan decided to keep interest rate unchanged at 0.1% for the 5th consecutive month in a unanimous vote, as widely expected.
The central bank will also accept foreign currency-dominated sovereign bonds as collateral, including US, UK, German and French government debts.
Economic outlook was somewhat upgraded from "deteriorated significantly" to "deteriorating" even though "exports and production are beginning to level out".
This is the first upgrade since July 2006.
The economy is expected to recover in second half of FY2009, earlier than prior expectation of first half of FY 2010.
The Bank of Japan decided to keep interest rate unchanged at 0.1% for the 5th consecutive month in a unanimous vote, as widely expected.
The central bank will also accept foreign currency-dominated sovereign bonds as collateral, including US, UK, German and French government debts.
Economic outlook was somewhat upgraded from "deteriorated significantly" to "deteriorating" even though "exports and production are beginning to level out".
This is the first upgrade since July 2006.
The economy is expected to recover in second half of FY2009, earlier than prior expectation of first half of FY 2010.
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