The Bank of Japan Policy Board kept its benchmark short-term interest rate at 0.5 percent Tuesday as the U.S. subprime mortgage loan crisis continues to impact the global markets.
At the end of its two-day monthly meeting, the board voted 8-1 to maintain the current interest rate. Atsushi Mizuno cast the sole vote for a rate hike. He has been voting for a rate increase since July.
The decision was anticipated by market watchers. In a survey compiled by the Cabinet Office last week, almost all economists predicted that the BOJ won't raise the interest rate until next year.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.