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Japan: BoJ leaves interest rates unchanged

Posted by Danske Bank A/S in October 7th 2008  
The Bank of Japan (BoJ) as expected left its leading O/N target rate unchanged at 0.5% in a unanimous decision. The statement on monetary policy was broadly unchanged compared to its September statement. BoJ believes growth will remain sluggish for the time being but will eventually recover as the impact from higher commodity prices abates and the global economy moves out of its current deceleration phase. Not surprisingly, it continues to see considerable downside risk to the economy from the

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Filed under: Fundamental