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Japan central bank keeps zero interest rate policy

Japan central bank keeps zero interest rate policy

October 29th, 2010 in News

TOKYO (AP) - Japan's central bank has kept its key interest rate unchanged at zero to 0.1 percent in a widely expected decision.

The Bank of Japan's nine-member policy board made unanimous decision at a one-day meeting Thursday.

The central bank also decided to buy corporate debt with lower credit ratings as part of its planned asset purchase program intended to help companies raise money.

The Bank of Japan faces growing worries about the Japanese economy, which is being battered by a strong yen and persistent deflation. Recent economic indicators point toward weakening growth.