Bank of Japan interest rates unchanged

Source: Bloomberg
© Scanpix/Reuters
The Bank of Japan announced changes in its monetary policy on Tuesday. The central bank said that it had missed its goal of 1% annual inflation, therefore it will maintain its current interest rate between 0 and 0.1%, and that monthly bond purchased will be at the level of 1.8 trillion Yen. Economists were also widely expecting that there would be no change in benchmark interest rates.

"The problem is not banks' ability to lend. The problem is a lack of demand for loans due to deflation and a high exchange rate. The markets will continue to expect more from the BOJ," said chief Japan economist at Bank of America Merrill Lynch in Tokyo, Masayuki Kichikawa.
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Tue, 30 Oct 2012 14:58:05 GMT

Swiss consumption indicator rises in September

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