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March 7, 2008 - Forex Economic News
Bank of Japan holds rate steady at 0.5%.
The Bank of Japan held its interest rate unchanged at 0.50 percent today in a government announcement. The Bank Monetary Policy Committee unanimously(9-0) voted for the rate decision. The rate hold was forecasted by market economists and was the 15th straight bank meeting that the rate stayed at 0.5 percent. Japan's last rate change was a .25 percent increase in February 2007. The yen was little changed in trading after the news and the USD/JPY pair is trading at 102.62, at 5:43 GMT.
Tags: usd/jpy, bank of japan, japanese yen, interest rate
