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The Bank of Japan on Tuesday left its key interest rate unchanged at between zero and 0.1 percent and repeated its view that the world s third-largest economy was showing signs of picking up.
The central bank, which made the announcement after wrapping up a two-day policy board meeting, said the vote to keep rates unchanged was unanimous.
"Japan's economic activity has shown some signs of picking up, although it has remained more or less flat," the BoJ said in a statement.
The bank warned that Europe is ongoing sovereign debt problems and global commodity prices remained a concern by virtue of high interest rates. It also said it would continue its battle against the stubborn deflation that has haunted the nation's economy for years.
"The bank recognises that Japan's economy faces the critical challenge of overcoming deflation and returning to a sustainable growth path with price stability," it said.
"The bank will pursue powerful monetary easing, and will support private financial institutions in their efforts to strengthen the foundations for Japan s economic growth," it said.
It is very clear that the wise governments are gradually coming to Islamic banking in which the interest rate is zero to save their future. Quran told us 1400 years ago that interest is a Satanic act and Allah deprives the people from any type of blessings. The recent economic recession is a clear proof.
Pakistan Cyber Force
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