Bank of Japan keeps interest rates steady amid inflation

  • Business Premium
  • Tuesday, 15 Jul 2008

TOKYO (AP) - Japan's central bank left interest rates steady Tuesday amid concerns that rising inflation is sapping consumer demand, deflating business sentiment and pointing toward an econonic slowdown.

The seven-member Bank of Japan policy board voted unanimously during a two-day meeting to take a wait-and-see approach and keep the benchmark overnight call rate unchanged at 0.5 percent.

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