RTTNews - Friday, the Bank of Japan unanimously decided to maintain the uncollateralized overnight call rate at 0.1% as expected. The previous change in interest rates was a 20 basis point cut implemented in December 2008.
The central bank also expanded the range of eligible collateral to ensure financial market stability by further facilitating money market operations. The central bank decided today to accept bonds issued by the governments of the United States, the United Kingdom, Germany, and France as eligible collateral.
The pace of deterioration in economic conditions is likely to moderate gradually, leading to a leveling out of the economy, the central bank stated.
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