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May 20, 2008 - Forex Economic News
Bank of Japan holds rate steady at 0.50%.
The Bank of Japan held its interest rate unchanged at 0.50 percent today in a government announcement. The Bank Monetary Policy Committee unanimously voted for the rate decision. The rate hold was widely forecasted by market economists as Japan's last rate change was a .25 percent increase in February 2007. The minutes of the BoJ decision will be released on June 18th. The yen has been gaining ground in forex trading this morning in the U.S. forex session especially against the U.S. dollar. The USD/JPY currency pair has fallen from a recent high of 105.41 yen per dollar on May 14th to trading at 103.50 yen per dollar today before noon EST.
Tags: interest rate, boj, bank of japan, japanese yen
