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Tuesday, Japan's central bank in its monetary policy meeting kept its key interest unchanged.
The Bank of Japan kept the uncollateralized overnight call rate at 0.1% , by unanimous vote.
The central bank said the domestic conditions have stopped worsening, with public investments increasing, and exports and production also picking up. Private consumption, although showed signs of improvement, remained weak. The decline in the core consumer prices accelerated.
The central bank said baseline scenario through fiscal 2010, is for the medium-to-long term growth to remain generally unchanged. Moreover, the central bank projects the economy to start recovering in the second half of the fiscal year 2009, supported by domestic measures along with recovery in the overseas market and improvement in the global financial markets.
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