Investing.com – The Bank of Japan on Wednesday kept its benchmark interest rate on hold at 0.1%, in line with economists' expectations, and said the world's second-biggest economy was "picking up."
In a statement announcing the move, the central bank said: "Japan's economy has been picking up, mainly due to improvements in overseas economies and various government policy steps, although it lacks a self-sustained recovery in domestic private demand."
In the wake of the unanimous decision, which came after a two-day meeting by the Bank of Japan's eight-member board, the yen slipped against the U.S. dollar, with USD/JPY gaining 0.12% to hit 93.9.
In a statement announcing the move, the central bank said: "Japan's economy has been picking up, mainly due to improvements in overseas economies and various government policy steps, although it lacks a self-sustained recovery in domestic private demand."
In the wake of the unanimous decision, which came after a two-day meeting by the Bank of Japan's eight-member board, the yen slipped against the U.S. dollar, with USD/JPY gaining 0.12% to hit 93.9.