RTTNews - The Bank of Japan board members all agreed that the Japanese economy has stopped worsening, minutes from the June 15 and 16 monetary policy meeting revealed on Tuesday. The members conceded, however, that unemployment could remain uncomfortably high for the near term.
At the meeting, the board unanimously voted to hold the uncollateralized overnight call rate at 0.1 percent. It also kept Japan's long-term growth outlook unchanged.
Some of the board members suggested ending the banks' various corporate funding measures, adding that global monetary policy in response to the economic slowdown has resulted in the recent increase in commodity prices.
The board ultimately did not set a timetable for the easing of the measures, voting to extend the measures at the meeting and in last week's July meeting, as well.
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