BoJ keeps rates on hold

The Bank of Japan kept interest rates on hold and held off on new policy initiatives on Thursday as widely expected, but persistent deflation is likely to keep government pressure simmering for more action. The central bank maintained its commitment to keep monetary conditions very easy in a statement announcing the rate decision and vowed to do its utmost to pull Japan out of deflation.
The decision to keep rates on hold at 0.1 percent was made by a unanimous vote of the BOJ policy board as widely expected. The central bank also stuck to its economic assessment, saying the pace of recovery will gradually pick up from later this year.