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Economy

Bank of Japan keeps rates steady; inflation still sluggish

Demand picking up, but easing to continue as BOJ and Fed diverge

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  © Reuters

TOKYO -- The Bank of Japan on Friday kept its monetary policy unchanged, as it continues its battle to snap the country out of its deflationary malaise.

The BOJ's policy board voted 7-2 to maintain an interest rate of -0.1% for some excess reserves held at the bank by financial institutions, as well as its effort to keep the yield on 10-year Japanese government bonds, or long-term interest rates, near zero.

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