Bank of Japan Keeps Rates Steady

The Bank of Japan kept monetary policy steady on Tuesday after having eased for the second straight month in October, preferring to save its limited options for now as political pressure for bolder monetary expansion heightens ahead of a general election in December.

The central bank kept its assessment of the economy unchanged but warned of weakness in exports, output and capital expenditure due to a slowdown in overseas economies.

As widely expected, the BOJ kept its overnight call rate target unchanged at a range of zero to 0.1 percent by a unanimous vote and held off on expanding its asset-buying programme, its key monetary easing tool, from 91 trillion yen ($1.12 trillion).

Read the rest of the story: Bank of Japan holds fire, defies easing calls as political pressure heats up.

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