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BOJ keeps rates steady at 0.5 pct as expected

Tue Apr 8, 2008 11:26pm EDT

TOKYO, April 9 (Reuters) - The Bank of Japan left its interest rate target unchanged at 0.5 percent on Wednesday, as expected, in a unanimous vote.

The rate review was completed as parliament moved to appoint acting governor Masaaki Shirakawa to the job permanently, ending a three-week vacuum at the top of the central bank.

While the BOJ's rate decision was no surprise, markets are watching closely to see if it has become more pessimistic in its outlook for the Japanese economy.

The central bank will release its monthly economic report at 3 p.m. (0600 GMT) and Shirakawa will hold a news conference from 3:30 p.m. (0630 GMT).

The BOJ has kept monetary policy on hold since raising the key overnight call rate target from 0.25 percent in February last year. (Reporting by Yoko Nishikawa and Yuzo Saeki)



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