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BoJ Leaves Monetary Policy Unchanged

4/9/2012 11:53 PM ET

The Bank of Japan on Tuesday kept its benchmark interest rate and stimulus programs unchanged and said the economic activity is showing signs of picking up.

During the monetary policy meeting, the central bank's policy board retained the benchmark uncollateralized overnight call rate at 0-0.1 percent as expected. There was no announcement of additional stimulus this month. The asset purchase and credit facility were unchanged at JPY 30 trillion and JPY 35 trillion respectively.

The bank maintained its economic view, saying "Japan's economic activity has shown some signs of picking up, although it has remained more or less flat."

The policy board said the BoJ will establish a new US dollar lending arrangement, worth $12 billion, as part of the fund provisioning measure to support strengthening the foundations of economic growth.

by RTT Staff Writer

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