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Tags: AS | Japan | Economy

Japan Central Bank Stands Pat after Fed Rate Cut

Thursday, 19 September 2019 02:38 AM

TOKYO (AP) — Japan's central bank has opted to keep its monetary policy unchanged despite growing signs of trouble that prompted the Federal Reserve to cut its benchmark rate.

The Bank of Japan said Thursday in its policy statement that exports, industrial output and business sentiment had been affected by the slowdown in overseas markets.

The China-U.S. tariff war has pummeled Japan's exports. But the BOJ said strong corporate profits were supporting business investment.

The BOJ's key interest rate has been at minus 0.1% for years, while it has continued massive asset purchases to help inject money into the economy. So far, it has failed to attain the 2% inflation rate target it says is needed to help sustain growth.

It said that "downside risks concerning overseas economies seem to be increasing."

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Japan's central bank has opted to keep its monetary policy unchanged despite growing signs of trouble that prompted the Federal Reserve to cut its benchmark rate.The Bank of Japan said Thursday in its policy statement that exports, industrial output and business sentiment...
AS,Japan,Economy
131
2019-38-19
Thursday, 19 September 2019 02:38 AM
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