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BOJ keeps rate steady at 0.5 pct by 9-0 vote

Thu Feb 14, 2008 10:52pm EST

TOKYO, Feb 15 (Reuters) - The Bank of Japan left its policy rate target unchanged at 0.5 percent on Friday as expected, with turbulence in financial markets and fears about a U.S. recession heightening concerns over the economic outlook.

The decision by the nine-member board was unanimous, which came as little surprise because hawkish board member Atsushi Mizuno dropped his call for a rate rise in December.

The rate decision came a day after government data showed Japan's economy grew at double the expected rate in the last quarter of 2007, led by strong capital spending and exports. [ID:nT303662]

The BOJ has kept monetary policy on hold since raising the key overnight call rate target from 0.25 percent a year ago.

The central bank will release its monthly economic report at 3 p.m. (0600 GMT) and Governor Toshihiko Fukui will hold a news conference from 3:30 p.m. (0630 GMT). (Reporting by Yoko Nishikawa)



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