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Japanese central bank maintains key interest rate

(Xinhua)
Updated: 2008-06-13 13:42

TOKYO -- The Bank of Japan (BOJ), the country 's central bank, decided on Friday to maintain the benchmark short- term interest rate steady at 0.5 percent in line with market expectations.

The widely-expected decision was made at the end of the BOJ's two-day policy meeting. Its nine-member Policy Board voted unanimously for keeping the rate unchanged for the 16th consecutive month.

The uncollateralized overnight call rate has been unchanged since February 2007, when the BOJ lifted it from 0.25 percent to 0. 5 percent.