BoJ Call Rate voted to remain the same at <0.10%

Friday, 20 May 2011 10:00

A couple of hours ago, the Bank of Japan executed its monetary policy statement voting that BoJ interest rates will remain at the same position as expected at 0 to 0.1%.  Japan has been going through tough times ever since the big nuclear and tsunami disaster, one of the worst in the history; this happening weakened Japan's economy.  Housing market has gone down, export and import facilities have weakened drastically and the currency was seen struggling against its major rivals constantly while the tragedy occured.  The decision to keep interest rate at the same level didn't affect the Yen, as USD/JPY is seen currently trading 81.75, while EUR/JPY 117.10.

Update: At the BoJ Press Conference, the Bank of Japan Governor, Masaaki Shirakawa, announced that economic growth remains strong.