Economy

Ghost Dog

(16,881 posts)

12. BoJ Cuts Economic View For Second Month; Holds Key Rate

Wed Dec 21, 2011, 07:33 AM

Dec 2011

TOKYO (dpa-AFX) - The Bank of Japan, or BoJ, lowered its assessment of the economy for a second consecutive month at its rate-setting meeting on Wednesday, citing negative impacts from the ongoing debt turmoil in Europe and the appreciation of yen.

The Policy Board decided to retain the key interest rate near zero, but refrained from boosting stimulus despite weak economic prospects.

The central bank kept the benchmark uncollateralized overnight call rate unchanged at zero to 0.1 percent. The asset-purchase program was maintained at JPY 20 trillion, after lifting it by JPY 5 trillion in October. The size of credit facility was left unchanged at JPY 35 trillion.

The bank noted that the moderate pick-up observed in Japan's economic activity in the recent months have paused, due to slowdown in overseas economies and yen appreciation.

/... http://www.finanznachrichten.de/nachrichten-2011-12/22265525-boj-cuts-economic-view-for-second-month-holds-key-rate-020.htm

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