The Bank of Japan refrained from loosening monetary policy at the first meeting attended by its two new board members, despite the effect on the economy of the appreciating yen and Europe's debt woes.
The central bank kept its asset purchase fund at ¥45 trillion and its lending facility at ¥25 trillion, according to a statement released Thursday. All 22 analysts surveyed by Bloomberg News had predicted no change.
The BOJ kept its benchmark interest rate between zero and 0.1 percent and monthly bond purchases at 1.¥8 trillion. The bank's main policy tool has been purchasing financial securities ranging from government debt to exchange-traded funds to up growth.
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