Forex Asia Trading News- Japanese Interest Rates unanimously at 0-0.1%

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Bank of Japan has announced that their decision in regards to the country’s interests rates is for the rates to remain steady at the 0-0.1% rate. Their decision to retain the rates on these levels was in a sign that the sizeable quarter 1 decline in the economy has not affected the Bank’s views that a potential downturn can be avoided. Against to what was anticipated, Deputy Governor Kiyohiko Nishimura withdrew his proposal for loosening the economic policy further with an expansion of the BOJ’s asset-buying scheme. It is worth stating that this decision was accepted by all the member of the Bank of Japan BOJ kept interest rates unchanged at 0-0.1% by a unanimous vote. The Japanese Yen appeared to not have been affected from this decision as it was already expected and hence discounted.